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bonded investment

    4a designated investment not held by a trustee when acting as a trustee:

      1. (a) which, except in the case of a unit, is one of the following:
        1. (i) a readily realisable security held for a customer, whether or not held under a discretionary arrangement; or
        1. (ii) a designated investment in bearer form; or
        1. (iii) a designated investment held by a nominee company under the control of the firm or a person whom the firm controls; or
        1. (iv) a designated investment to which the title is recorded in electronic form;
      1. (b) which the firm may sell or procure the sale of without the signature or other action of the customer or an independent third party; and
      1. (c) where the proceeds of such a sale are or could be payable to the firm or its associate.