What are unclaimed entitlements?
When investors withdraw shares of a company in the form of physical certificates from CCASS Depository through their brokers or custodians (being CCASS Participants) or through their own Investor Participant (IP) accounts (if applicable), the certificates are registered in the name of HKSCC Nominees Limited. If the beneficial owners have not re-registered the withdrawn share certificates into their own names before the book-close date or record date for determining the entitlements, the company will distribute such entitlements to HKSCC Nominees Limited. These entitlements are held by HKSCC Nominees Limited as unclaimed entitlements.
Who can claim these unclaimed entitlements?
Investors can claim the unclaimed entitlements through the CCASS Participants or their own IP account. Participant must apply to Hong Kong Securities Clearing Company Limited (HKSCC) in the form prescribed by HKSCC from time to time and must provide HKSCC with satisfactory proof to the effect that the Participant is entitled to the unclaimed entitlements being claimed. Normally, such Participant will have to provide HKSCC with:
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a certified copy of the relevant Stock Withdrawal Receipt
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a certified copy of the relevant purchase contract notes or statement showing the relevant purchase transaction details
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certified copies of the relevant certificates and transfer deeds
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a certified copy of the relevant registrars' transfer receipts with certificate numbers printed thereon
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an original letter from the beneficial owner claiming the entitlement*
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a letter of indemnity (in the form acceptable to HKSCC)*
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a Dividend / Bonus Claim Letter (CCASS-Form 44)#
*Not applicable to application submitted through IP accounts
#Not applicable to application submitted through CCASS Participants
Where such Participant is unable to provide any of the above required documents, HKSCC may entertain a claim for unclaimed entitlements subject to the Participant providing HKSCC with (i) a satisfactory explanation as to why any one or more of such documents cannot be provided; (ii) confirmation from the relevant registrar of the non-registration and/or registration of the withdrawn certificates together with details of the transferee as the case may be; HKSCC may obtain such confirmation upon request from the Participant concerned who will be responsible for any charges incurred; and (iii) if so requested by HKSCC, a letter of indemnity, in a form acceptable to HKSCC, issued by the Participant and endorsed by a licensed bank or (subject to the prior approval of HKSCC and in a form acceptable to HKSCC) a third party Participant as guarantor.
Is there a time limit to submit the claim application?
HKSCC will continue to entertain claims on unclaimed entitlements when satisfactory proof to the effect that the participant is entitled to the unclaimed entitlements being claimed is provided by the Participants.
Application procedure
CCASS Participants must submit the application through HKEX Client Connect and IP must submit the application with the required documentation to the collection box located at 1/F, One & Two Exchange Square, 8 Connaught Place, Central, Hong Kong.
Note: A handling fee will be charged on every successful claim application in accordance with Section 21.5 of CCASS Operational Procedures.
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Dividend / Bonus claim letter (CCASS-Form 44)
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Letter of indemnity