I own 1,000 shares but lost the share certificate 10 years ago. I wish to transfer the shares to the Central Depository.
1. Easy way (but not implemented)
I sign a declaration that my share certificate was lost for 10 years. The share registrar accept my statement and transfer the register them with the Central Depository, based on the company's share register.
2. Difficult way (which was the current practice)
I have to sign a declaration before commissioner of oath
I have to sign an indemnity and find a bank or insurance company to provide a counter indemnity
I have to apply to the share registrar to issue a new share certificate
I have to bring the certificate to the Singapore Exchange
I have to visit the stamp duty office and pay the stamp duty
Total of 5 tips and about $400 in expenses.
3. Life in Singapore can be complicated and costly. Businesses and government departments are more interested to make money from every activity. They do not care about the unncessary burden to the public.
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