REPLACEMENT OF SECURITIES CERTIFICATES
Requirements | Brokers Requests for
Replacement Certificates | Loss or Destruction of
Certificates
Requirements 
Before any replacement securities
certificate is issued by registries or companies, they should refer to
Section 1070D of the Corporations Act (reprinted next page) which outlines
details which should be included in an application made by the securityholder.
Any replacement certificate issued must
bear a notation that it replaces the certificate/s which have
been declared lost as provided for in the ASX Listing Rules.
When a recent change of address has been
received for a securityholder, companies and
registries may wish to re-examine the change before issuing any replacement
certificate.
In the case of a request by a company, the
director or secretary should make the application behalf of the company.
Refer:
Form 10 "CERTIFICATE REPLACEMENT REQUEST - INDIVIDUAL & JOINT HOLDERS".
Form 10A "CERTIFICATE REPLACEMENT REQUEST - COMPANIES"
Form 10B "CERTIFICATE REPLACEMENT REQUEST - EXECUTOR/S OR ADMINISTRATOR/S"
For overseas holders, the Certificate
Replacement Request forms include a statutory declaration format, as the
Corporations Act has no jurisdiction outside Australia.
In addition to the requirements outlined
in the Corporations Act a registry may also require an indemnity to be
completed before issuing a replacement certificate.
It is therefore recommended that an
indemnity clause be included in certificate replacement requests to ensure a
standard industry format. It may also be necessary for a separate indemnity
to be completed by a company requesting a replacement certificate.
Brokers Requests
for Replacement Certificates
It is recommended that all companies and
registries accept requests for replacement certificates completed by CHESS
participant brokers (usually completed only by the owner of the securities)
provided that the request is in the recommended format.
Refer: Form 12
"CERTIFICATE REPLACEMENT REQUEST - BROKERS"
This recommended format contains an
indemnity clause, and must be completed by a partner or person authorised to sign indemnities on behalf of the broker
firm or company.
The use of facsimile documentation is
becoming more widely accepted, however there should
be no substitute for an original document for the replacement of a lost
certificate.
Generally the replacement
certificate should be forwarded to the securityholder's
registered address however, where appropriately requested to do so by a
lodging agent (e.g. broker, solicitor, etc) consideration may be given for
the certificate to be forwarded as requested.
The following is an extract of the
relevant Corporations Act Section 1070D:
LOSS OR DESTRUCTION
OF CERTIFICATES
1070D (1) Subject to subsection (2),
where a certificate or other document of title to shares
debentures or prescribed interests is lost or destroyed, the company shall,
on application by the owner of the shares, debentures or prescribed
interests, issue a duplicate certificate or document to the owner :
a) If the company requires the payment
of an amount not exceeding the prescribed amount within 21 days after the
payment is received by the company or within such longer period as the
Commission approves; or
b) In a case to which paragraph (a)
does not apply - within 21 days after the application is made or within such
longer period as the Commission approves.
1070D (2) The application shall be accompanied by:
a) a statement in writing that the
certificate or document has been lost or destroyed, and has not been pledged,
sold or otherwise disposed of, and, if lost that proper searches have been
made; and
b) an
undertaking in writing that if found or received by the owner it will be
returned to the company.
1070D (3) The directors of a company may, before
accepting an application for the issue of a duplicate certificate or
document, require the applicant :
a) to cause an advertisement to be
interested in a daily newspaper circulating in a place specified by the
directors stating that the certificate or document has been lost or destroyed
and that the owner intends, after the end of 14 days after the publication of
the advertisement, to apply to the company for a duplicate; or
b) To furnish a bond for an amount
equal to at least the current market value of the shares, debentures or
prescribed interests indemnifying the company against loss following the
production of the original certificate or document;
or to do both those things
