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- The withdrawing party formally indicates its intention to withdraw from the iSHARE network to the Scheme Owner.
- The Scheme Owner has 5 working days to acknowledge the intention to withdraw of the withdrawing party; the Scheme Owner makes the acknowledgement known to the withdrawing party, and provides a date on which the withdrawing party will be considered withdrawn from the iSHARE scheme by the Scheme Owner;
- The withdrawing party communicates its withdrawal to the parties it interacts (interacted) with under iSHARE;
- The withdrawing party, in cooperation with the Scheme Owner, withdraws from the iSHARE network.
Withdrawal of a
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Certified Party, downgrade of a
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Certified Party
- The withdrawing/downgrading party formally indicates its intention to withdraw/downgrade from the iSHARE network to the Scheme Owner. It includes a withdrawal plan based on the (to be set up) template withdrawal procedure;
- The Scheme Owner has 5 working days to acknowledge the intention to withdraw/downgrade of the withdrawing/downgrading party; the Scheme Owner makes the acknowledgement known to the withdrawing/downgrading party, and provides up to date guidelines;
- If necessary, the withdrawing/downgrading party sends an updated withdrawal plan to the Scheme Owner, keeping in mind the guidelines provided by the Scheme Owner;
- The Scheme Owner accepts the withdrawal/downgrading plan or indicates where it requires changes;
- The Scheme Owner and the withdrawing/downgrading party communicate the intended withdrawal with the iSHARE network per date dd-mm-yyyy;
- The withdrawing/downgrading party, in cooperation with the Scheme Owner, withdraws/downgrades from the iSHARE network in accordance with the withdrawal plan;
- The Scheme Owner communicates the completed withdrawal to the iSHARE network.