Direct Accounts
CDBL is offering a service to investors who wish to hold their securities in dematerialised form but do not wish to use a stockbroker or a bank to do so.
Investors will be asked, by CDBL, to complete an account opening form. They will then be able to dematerialise existing holdings by giving the certificates to CDBL or to their stockbrokers and completing the dematerialisation request form.
When they wish to sell their securities they should instruct CDBL in writing to transfer the required number of securities to the stockbroker. When they buy they should instruct their stockbroker to transfer the securities to the Direct Account following the settlement day. It is not necessary, in this case, to instruct CDBL.
CDBL will not handle funds and investors must make arrangements to settle payments directly with their stockbrokers.
CDBL will issue statements directly to the account holder on a monthly basis, if there are any movements and on a quarterly basis, if there are no movements.