Transmission of Title (TOT)
How to Manage the Securities (CDS) Account of a Deceased Investor
It can be overwhelming to have to manage financial aspects upon the passing of someone. If you are required to handle the Central Depository System (CDS) account of a deceased investor, here is a guide on how to go about it.
To begin managing the CDS account of a deceased investor, you will need to determine if you are a Personal Representative* (PR). There are two types of PRs considered by authorities in this regard:
- Executor/Administrator appointed pursuant to Grant of Probate (GOP)/ Letter of Administration (LA); or
- Beneficiary named in the Distribution Order (Borang E) or Direction Letter from Amanah Raya Berhad.
*If you are not certain of your status, please contact the nearest Authorised Depository Agent (ADA) i.e. Stockbroking Firm/Investment Bank at your convenience and speak to a representative from the CDS Department.
If you have determined yourself as a PR, here are the steps needed to manage the respective CDS account.
You will need to submit the following documents to an ADA i.e. Stockbroking Firm/Investment Bank in Malaysia for verification:
- Original or certified true copy of the Death Certificate; and
- Original or certified true copy of the GOP/LA; or
- Distribution Order (Borang E) or Direction Letter from Amanah Raya Berhad; and
- Original NRIC/Passport of the Executor / Administrator / Beneficiary.
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*Please refer here for FAQs on persons who reside outside of Malaysia. |
Once all the documents are prepared:
- The Executor / Administrator / Beneficiary will need to visit the CDS Operations or Customer Service Department of any preferred ADA i.e. Stockbroking Firm/Investment Bank in Malaysia for the submission of documents.
- The documents will be verified by the authorised officer there.
- The Executor / Administrator / Beneficiary will need to complete the Personal Representative Authorisation Letter Form and submit the duly completed form at the ADA i.e. Stockbroking Firm/Investment Bank*.
- Original NRIC/Passport of the Executor / Administrator / Beneficiary.
*Please refer here for the full list of the ADAs i.e. Stockbroking Firms/ Investment Banks in Malaysia. https://www.bursamalaysia.com/trade/trading_resources/brokers_for_equities/list_of_participating_org...
- Upon completion of the validation process, the Executor / Administrator/ Beneficiary will be notified of the PR status accordingly by the ADA i.e. Stockbroking Firm/Investment Bank.
- PR may then proceed to either Transfer the shares, Suspend, or Terminate the CDS account.
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How to Manage the Securities (CDS) Account of a Deceased Investor
For more information on Frequently Asked Questions (FAQs), please scan me: |
For more information on ADA i.e. Stockbroking Firm/Investment Bank, please scan me: |
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