FAQs
Transmission of Title (TOT)
- Who is authorised to liaise with an ADA/stockbroking company in respect of the CDS account(s) of a deceased depositor?
The following person is authorised to liaise with any ADA/stockbroking company in terms of balance enquiry, closing of accounts, suspension of account and transfer of securities:
- A beneficiary who is named in the Distribution Order (Borang E - Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya Berhad; or
- A person who is appointed as the Executor or Administrator pursuant to Grant of Probate or Letter of Administration.
- Can CDS account of a deceased depositor be suspended?
Yes. The Executor, Administrator or beneficiary of the deceased depositor may request to suspend the CDS account of a deceased depositor by providing the following documents to the ADA/stockbroking company:
- A duly executed Suspension/Release of Suspension of Securities Request form. This form is available at the Bursa Malaysia’s website https://www.bursamalaysia.com/trade/our_products_services/central_depository_system/cds_forms
- A certified true copy of the deceased depositor’s death certificate;
- A certified true copy of the Executor, Administrator or beneficiary’s NRIC/Passport; and
- A certified true copy of Grant of Probate, Letter of Administration, Distribution Order (Borang E - Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya Berhad.
The Suspension/Release of Suspension of Securities Request form must be executed before a Notary Public, Advocate & Solicitor or any of the authorised officer(s) of the ADA/stockbroking company in Malaysia. The above-mentioned documents must also be certified to be a true copy by the same witness who witnesses the execution of the Suspension/Release of Suspension of Securities Request form.
- What are the procedures for transferring securities from a deceased depositor’s CDS account to the Executor, Administrator or beneficiary’s CDS account?
The procedures are as follows:
The Executor or Administrator appointed pursuant to the Grant of Probate (“GOP”) or Letter of Administration (“LA”) or the beneficiary named in the Distribution Order (Borang E - Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya Berhad must be personally present before an authorised officer of an ADA/stockbroking company to submit the following documents for verification and to execute the Notification of Death of Depositor form (Form A):
i) Original or certified true copy of the death certificate by Notary Public or Advocate & Solicitor;
ii) Original or certified true copies of the GOP, LA, Distribution Order (Borang E Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya Berhad by Notary Public or Advocate & Solicitor; and
iii) Original NRIC/passport of the Executor or Administrator or beneficiary named in item a above.
- Pay RM50.00 processing fee (per request) and RM10.00 transfer fee (per securities) via online banking. The ADA/stockbroking company will provide bank account details for the applicant to make such payment.
Note: GOP or LA obtained from a court or authority in a Commonwealth jurisdiction outside Malaysia must be duly resealed in the High Court of Malaysia and the supporting documents stated in items i to iii must be executed before a Notary Public or Advocate & Solicitor.
- What if the Executor, Administrator or beneficiary cannot be present at the ADA/stockbroking company to execute standard documents?
If the Executor, Administrator or beneficiary cannot present in person at any ADA/stockbroking company to execute the standard documents, he/she may write to the ADA/stockbroking company for a waiver of their presence at its office.
- What if the Executor, Administrator or beneficiary resides outside of Malaysia?
If the Executor, Administrator or beneficiary resides outside of Malaysia, they may write to the ADA/stockbroking company for a waiver of their presence at its office. The ADA/ stockbroking company shall contact the Executor, Administrator or beneficiary to advise and guide them on the necessary procedures to be followed.
- Can the information relating to the CDS account or securities holding of a deceased depositor be disclosed to any individual who has not yet been appointed as a Personal Representative, for the purpose of applying for
(i) Grant of Probate or Letter of Administration from the Court,
(ii) Distribution Order (Borang E) from Bahagian Pesaka Kecil, Pejabat Tanah or
(iii) Direction Letter (Surat Arahan) from Amanah Raya Berhad?No. Pursuant to the secrecy provision under the Securities Industry (Central Depositories) Act 1991 (SICDA), Bursa Depository is prohibited from disclosing any information pertaining to the affairs of a depositor such as securities balances, CDS account numbers, or any other details of a depositor maintained with Bursa Depository. Disclosures of such information can only be made pursuant to the permitted disclosure provisions in SICDA, and to a lawfully appointed personal representative of the deceased depositor.
- Do I need to provide a full listing of securities when applying for Grant of Probate, Letter of Administration, Distribution Order (Borang E - Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya Berhad?
For Grant of Probate or Letter of Administration application, the Applicant is required to quote “all securities maintained with Bursa Malaysia” (semua sekuriti-sekuriti di Bursa Malaysia).
For Distribution Order (Borang E) or Direction Letter (Surat Arahan) from Amanah Raya Berhad application, the Applicant is required to provide a full listing of all securities held in the deceased’s CDS account(s) as well as CDS statements of the deceased depositor as a proof of evidence of securities held.
- Can the Administrator, Executor or beneficiary transfer securities of the deceased depositor directly to the third party’s CDS account?
During the submission of the application for Transmission of Title for the deceased depositor, the Administrator or Executor may transfer securities of the deceased depositor directly to the third party’s CDS account if the instruction stated in the Notification of Death of Depositor form (Form A).
However, for the beneficiary who is named specifically in the Distribution Order (Borang E – Surat Kuasa from Bahagian Pesaka Kecil) or Direction Letter (Surat Arahan) from Amanah Raya, securities of the deceased depositor may only be transferred to the beneficiary’s own CDS account.
- How to sell securities under CDS account of a deceased depositor?
The securities under the CDS account of the deceased depositor can only be liquidated when the said securities have been transferred to the Administrator, Executor or beneficiary’s CDS account. Once the securities have been successfully transferred to the Administrator, Executor or beneficiary’s CDS account, they can instruct the dealer’s representative/remisier to sell the securities depending on the status of the respective securities i.e. listed or delisted. For delisted securities, it cannot be sold as the securities are no longer traded at Bursa Malaysia and can be withdrawn from CDS Account only. For procedures to withdraw delisted securities, please contact CDS Department of ADA/stockbroking company.
- As the Administrator, Executor or beneficiary of a deceased depositor, do I need to submit the application for Transmission of Title through the deceased depositor’s ADA/stockbroking company only?
No. You may submit your application through any ADA/stockbroking company in Malaysia.
- What is the address and contact number of ADA/stockbroking company?
You may locate the contact details of the head offices of all ADA/stockbroking company at the Bursa Malaysia website. https://www.bursamalaysia.com/trade/trading_resources/brokers_for_equities/list_of_participating_organisations