Transmission of Shares

After the demise of a shareholder, shares held by the deceased shareholder must be transferred according to the documents issued by a competent court or in absence of a testamentary matter filed in court, based on the appropriate documentation as determined by the CDS Registrar Unit.

The processes and required documents may differ from one case to another. Document requirements will fall under one category out of the below;

Before proceeding to arrange the document please contact us for more information.

All copies of the documents need to be certified by an Attorney-at-Law or a Commissioner for Oaths.

(1) Asset value below 500,000/4,000,000

1. Certified copy of the death certificate of the shareholder
2. Certified copy of the NIC of the deceased shareholder (original will be returned after inspection)
3. Original share certificates held by the deceased shareholder
4. Letter from Grama Niladhari certified by the Divisional Secretary, confirming the legal heirs
5. Certified NIC copies of beneficiaries
6. Transfer of Share Forms (Forms to be completed separately for each of the beneficiaries) or for shares held in CDS duly completed CDS 19 Form
7. Letter of Indemnity and Affidavit (Indemnity letter to be signed by all beneficiaries)
8. Certified NIC copies of witnesses to all documents
9. Letters informing CDS account numbers of the beneficiaries
10. Duly completed CDS 3 Forms separately for each beneficiary
11. All unrealized dividend cheques issued in favor of the deceased shareholder (number of cheques received to be mentioned)

(2) Asset value above 500,000/4,000,000

1. Certified copy of the death certificate of the shareholder
2. Certified copy of the NIC of the deceased shareholder (original will be returned after inspection)
3. Original share certificates held by the deceased shareholder
4. Certified copy of the Letter of Administration (certified by the Registrar of the District Court where Testamentary case is filed)
5. Scheme of Distribution, Final accounts and inventory and the relevant journal entries (certified by the Registrar of the District Court where Testamentary case is filed)
6. Transfer of Shares Form/s (To be completed & signed separately by all the beneficiaries) or for shares held in CDS duly completed CDS 19 Form
7. Certified NIC copies of beneficiaries
8. Certified copies of NIC/Passport of all witnesses to the relevant documents
9. Letters informing CDS account numbers of the beneficiaries
10. Duly completed CDS 3 Forms separately for each beneficiary
11. All unrealized dividend cheques issued in favor of the deceased shareholder (number of cheques received to be mentioned)

(3) Surviving party transfer for ledger shareholders

1. Certified copy of the death certificate of the shareholder
2. Certified copy of the NIC of the deceased shareholder (original will be returned after inspection)
3. Original share certificates held by the deceased shareholder & and the surviving party(ies)
4. Duly completed CDS letter format
5. Certified copy of the NIC of the surviving party(ies)