FAQs
Transfer of Securities
- Can I request to transfer securities to any parties?
Effective 1st September 1998, any transfer requests must be within the approved reasons of transfer prescribed in the CDS Procedures Manual for ADA/stockbroking company by Bursa Depository. You may contact your ADA/stockbroking company for further details.
- Can I initiate a transfer of a counter which is suspended from trading?
Yes, you can, provided it falls within the approved reasons.
- What are the changes done to the transfer process by Bursa Depository on 30th December 2002?
The changes are as follows:
- Introduction of new Transfer of Securities Request form which incorporated more user-friendly features and a declaration clause.
- The cut-off time for depositors to lodge their transfer related documents with their respective ADA/stockbroking company or Authorised Depository Member (ADM) had been extended form 12.00pm to 3.00pm.
The previous ten (10) approved reasons have been reclassified to two (2) broad categories, as stated below:
A. No Change in Beneficial Ownership
This category of approved reason for transfer caters for transfers that result in no change in the beneficial ownership of securities. Under this category of approved reasons for transfer, the name of the beneficial owner is transparent and identical at both the securities accounts of the transferor and transferee, thus no supporting document is required.
B. Change in Beneficial Ownership
This category of approved reason for transfer covers scenarios such as transfers pursuant to General Offer, transfers between family members, transfers arising from pledging of securities, transfers involving Government Authorities and transfers that require prior approval from Bursa Depository. Except for transfers involving Government Authorities, the rest of the approved reasons in this category would require supporting documents.
- In relation to transfers between family members' CDS accounts, what are the scenarios or relationships allowed by Bursa Malaysia Depository?
Bursa Depository only allows transfers between the transferor (the person who initiates the transfer) and transferee (the person who receives the transferred securities), who are immediate family members. Here are the following relationships allowed:
- Parents
- Children/Adopted children
- Spouse
- Brothers
- Sisters
- Grandparents
- Grandchildren
Individual depositors are also able to transfer securities from their CDS accounts held directly in the name of the individual depositor or nominee accounts held by authorised nominee* (where the individual depositors are indicated as beneficial owners) to CDS accounts held directly in the name of their family members. They will be required to enclose the relevant supporting documents when initiating such transfers, as advised by the ADA/stockbroking company.
However, transferring of securities from the depositors' Pledged Securities Accounts directly to their family members' CDS accounts are not permitted.
*Authorised nominee means a person who is authorised to act as a nominee as specified in accordance with the schedule prescribed under part VIII of the Rules of Bursa Malaysia Depository Sdn. Bhd.
- When will the transfer of securities be reflected in the CDS account?
Once the transferor submits the completed Transfer of Securities Request form to his ADA/stockbroking company, the ADA/stockbroking company concerned will verify all the documentation to ensure that they are in order before reflecting the relevant information into the CDS. Upon successful execution of the transfer request in the CDS, the transferor's CDS account will be debited and the transferee's CDS account will be credited immediately.
- Can I perform transfer of securities to my family members through Bursa Anywhere mobile app?
Bursa Anywhere mobile app only allows NCBO type of transfer transactions involving direct CDS accounts of the same depositor. Transfer of securities into family members’ CDS account is not permitted through Bursa Anywhere mobile app.