ISLA is pleased to announce the publication of a new Austrian template to accompany the 2010, and 2018 versions of the Global Master Securities Lending Agreement (GMSLA).
ISLA members indicated a requirement for the Association to produce a standard form template clause to assist market participants when lending and borrowing Austrian securities, as a result of the publication of the ‘Information on Levying and Refunding of Austrian Withholding Taxes on Dividends received by Taxpayers with Limited Tax Liability (Non-Resident Taxpayers) from Public Limited Companies’ by the Austrian Ministry of Finance in November 2022.
This template is for use with the GMSLA 2010 Title Transfer and the GMSLA Security over Interest (‘Pledge’) agreements. This wording was drafted by members of the ISLA Tax and Legal Steering Groups and reviewed by Freshfields Bruckhaus Deringer LLP. The wording can be used as an additional provision in new GMSLAs, or as an amendment to legacy ones.