Back Custom print Link Text Only Rich Text Print

  • Verification of Certificates and Transfer to a Central Depository

    • CSD-2.6.4

      The issuer shall, on receipt of the certificate and instrument, forthwith, do all such acts and things as may be necessary in order to register the transfer of the security underlying such certificate in the name of the central depository.

    • CSD-2.6.5

      Where an issuer refuses registration of a transfer, it shall serve on the transferor and the central depository, being the transferee, a written notice giving the reasons for such refusal, within 7 days.

    • CSD-2.6.6

      Without prejudice to the right of an issuer to refuse to register a transfer under any written law, the issuer shall refuse registration of the transfer mentioned in rule CSD-2.6.8 if:

      (a) It ascertains that the certificate is not a genuine certificate, or is a certificate that was reported lost or destroyed; or
      (b) In relation to any such security, it discovers that:
      (i) There has been a duplication in the issuance of the certificate representing the security;
      (ii) Such certificate is a certificate issued in excess of the issued share capital of the issuer; or
      (iii) It has been served with an order of a court of competent jurisdiction prohibiting any dealing in respect of the security underlying such certificate.
      Amended: April 2016

    • CSD-2.6.7

      Within seven market days after a transfer is lodged with an issuer or within such longer period as may be allowed in writing by a central depository, the issuer shall complete and deliver the appropriate certificate to the central depository.

      The central depository may refuse entry of the certificates deposited where prima facie:

      (a) There are discrepancies between the securities received and the transfer lodged; or
      (b) The securities are invalid, not genuine.

    • CSD-2.6.7A

      The central depository may refuse entry of the certificates deposited where prima facie:

      (a) There are discrepancies between the securities received and the transfer lodged; or
      (b) The securities are invalid, not genuine.
      Added: April 2016