Just an update on the IG situation. I emailed ASIC as suggested told them briefly our situation and asked were IG entitled to sell our shares without our permission and they emailed me a link that really had nothing to do with our situation:
So I thought I would then call and speak with someone. I explained briefly and was quickly told they could not answer and i would need to seek legal advice.
As suggested I am now going to request that under Term 25 (3) that they terminate my account and transfer the shares in there to my nominated account with Commsec.
Term 25 of the IG Customer Agreement (7) On termination, subject to Terms 15(6), 15(7), 15(8) and 15(9), following receipt of your instructions, we will as soon as reasonably practicable arrange for Instruments to either be sold or transferred from our nominee into your own name or another nominee.
also under their Term 25(3) This Agreement and any arrangements here under may be Suspended or terminated by you by giving us written notice of Suspension or termination, which will take effect no later than 10 business days after actual receipt by our head office, unless a later date is specified in the notice.
We will see what happens next.
CGB Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
