CHANGES
OF ADDRESS OF REGISTERED SECURITY HOLDERS
CHESS
Subregister Changes of Address
It is recommended that all
securityholders should be made aware that it is necessary for them to
promptly advise any change of address to the registry of a company in
which they hold securities for certificated or issuer sponsored holdings
OR to the controlling broker or non-broker participant for all
CHESS holdings.
Registrars should encourage companies to incorporate these requirements
within routine communications with securityholders. e.g. Securityholder
information page within annual reports. This is to ensure that all notifications
and dividends are despatched to the correct address.
All notifications of change
of address should be correctly signed and include the following information.
Notifications of change of
address received by registries from registered securityholders of Issuer
Sponsored Subregister holdings should be accepted when:
- An original signed notification
is received.
- The notification purports
to be signed by the holder.
- In the case of joint holders,
the notification purports to be signed by all of the joint holders.
- The notification is signed
under power of attorney, and the original or a certified copy has
been sighted.
- In the case of a company,
the notification is signed in accordance with the company's constitution
and the Corporations Act or by the company's duly appointed attorney
or by an officer of the company on the company's letterhead.
The acceptance or not of
photocopy and facsimile advices is considered to be at the discretion
of the registry or issuer. e.g. A facsimile of a proxy form received
with a change of address notification is generally acceptable. Conversely
email advices are generally not as yet acceptable pending enactment
of electronic legislation.
Should an advice be received
which does not conform with the above requirements, the holder should
be forwarded a standard change of address notification form for completion
and return.
It is recommended that all
changes of address of securityholders be acknowledged to the old address
using the Australia Post approved green bordered envelope. For security
reasons the acknowledgement confirmation should not contain the SRN/HIN.
ASX Listing Rules provide that acknowledgment of a change of address
must be sent to the securityholder's old address.
Refer to : Form
1 "CHANGE OF ADDRESS NOTIFICATION "
CHESS
Subregister Change of Address
Most changes of address for
CHESS subregister holders are dealt with by the holder's controlling
participant. However, any changes of address notified directly to a
registry by a CHESS subregister holder must be redirected to the controlling
participant for authorisation through CHESS.
Refer to Form
14 "DOCUMENT FORWARDING".
The controlling participant,
be it either a broker or non-broker participant must instigate any changes
to the holding direct to CHESS.
Once a change to a CHESS holder's
registration details is authorised, all company registries upon which
that holder has a current balance are advised of the change. The holder
records should then be automatically updated in the registry computer
systems.
Should a notification be
incorrectly forwarded to a registry immediately prior to a record date,
it is unlikely that the holding details could be amended prior to the
extraction of details for the mailing of the corporate action. In these
instances it may be appropriate to inform the controlling participant
that the corporate action documents will be forwarded to the previous
address.
All changes made to the registration
details of a holding, including those made to the CHESS
subregister, should be examined by the registry to ensure they appear
to be in order and comply with the CHESS
and SRA standards. Incorrect holder details may result in delays or
non-receipt of correspondence by securityholders.
Any irregularities detected
by a registry in an address details change to a CHESS subregister holding
may require clarification with the controlling participant.
Refer to : Form
3 "REQUEST FOR CLARIFICATION OF REGISTRATION DETAILS"
and to SCH Business Rules requiring reply from participants within 48
hours.
CHESS
Settlement Operations will only become involved when the registry cannot
resolve the query with the controlling participant. Registries should
follow up all changes requested in this manner to ensure that the holding
details are correctly amended.
