SPDR Gold Trust (GLD)

 

Under the Allocated Bullion Account Agreement, the Custodian may employ subcustodians to provide temporary custody and safekeeping of gold until transported to the Custodian’s London vault premises. These subcustodians may in turn select other subcustodians to perform such temporary custody and safekeeping, but the Custodian is not responsible for (and therefore has no liability in relation to) the selection of those other subcustodians. The Allocated Bullion Account Agreement requires the Custodian to use reasonable care in selecting any subcustodian and provides that, except for the Custodian’s obligation to use commercially reasonable efforts to obtain delivery of gold held by subcustodians, the Custodian will not be liable for the acts or omissions, or for the solvency, of any subcustodian that it selects unless the selection of that subcustodian was made negligently or in bad faith. The subcustodians selected and used by the Custodian as of the date of this report are: The Bank of England, Brinks Ltd., Via Mat International and LBMA market-making members that provide bullion vaulting and clearing services to third parties. The Allocated Bullion Account Agreement provides that the Custodian will notify the Trustee if it selects any additional subcustodians or stops using any subcustodian it has previously selected.

 

 

Under the Allocated Bullion Account Agreement, the Custodian may
employ subcustodians to provide temporary custody and
safekeeping of gold until transported to the Custodian’s
London vault premises. These subcustodians may in turn select
other subcustodians to perform such temporary custody and
safekeeping, but the Custodian is not responsible for (and
therefore has no liability in relation to) the selection of
those other subcustodians. The Allocated Bullion Account
Agreement requires the Custodian to use reasonable care in
selecting any subcustodian and provides that, except for the
Custodian’s obligation to use commercially reasonable
efforts to obtain delivery of gold held by subcustodians, the
Custodian will not be liable for the acts or omissions, or for
the solvency, of any subcustodian that it selects unless the
selection of that subcustodian was made negligently or in bad
faith. The subcustodians selected and used by the Custodian as
of the date of this report are: The Bank of England, Brinks
Ltd., Via Mat International and LBMA market-making members that
provide bullion vaulting and clearing services to third parties.
The Allocated Bullion Account Agreement provides that the
Custodian will notify the Trustee if it selects any additional
subcustodians or stops using any subcustodian it has previously
selected.