How To

CDSC ACCOUNT OPENING
  • For an Individual CDS account.
  • 2 Passport Photos.
  • Copy of ID.
  • Copy of PIN Certificate.
  • Recent Bank/Mpesa Statement or Utility Bill in own name.

For a Company CDS account.

  • 2 Passport Photos for each signatory.
  • Registration Certificate of the Company.
  • Copy of ID for each signatory.
  • Copy(latest) of CR-12.
  • Resolutions to open the account and signatories.
  • Copy of PIN Certificate for the Company.
  • Recent Bank Statement for the Company.
  • Seal to be affixed on the form and signed by the signatories.

For a Joint CDS account.

  • 2 Passport Photos for each Individual.
  • Copy of ID for each Individual.
  • Copy of PIN Certificate for each Individual.
  • Recent Bank/Mpesa Statement or Utility Bill for each Individual.
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CDSC SHARE IMMOBILIZATION

Complete the CDS-2 form and sign and provide the following: –

Immobilization for an Individual or a Joint shareholder

  • Certified Copy of the ID and KRA PIN Certificate. (If joint account both to be certified).
  • Original Dividend notice and if it’s a copy it should be certified (same account).
  • Certified Copy of the current Bank statement (Less than six months old). (If joint account both to be certified).
  • All Shares Certificate(If joint account both to names to appear on the certificate) or an indemnity form for lost certificates.
  • CDS/Brokers Statement.

Immobilization of a Company shareholding

  • Annual Returns filed with the Registrar of Companies.
  • Company seal to be affixed on the CDS-2 form.
  • Certified copy of the Registration certificate MUST be attached to the CDS-2 form.
  • Introduction letter of the signatories should be done by a third party on a Company letter head.
  • Certified copies of IDs and KRA PIN certificates for the Company and the Directors.
  • Copy(latest) of CR-12.
  • Resolutions to open the account and signatories.
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PRIVATE SHARE TRANSFERS

Private transfer between a Couples

  • Certified copy of a Marriage certificate.
  • Certified copies of both IDs.
  • Sworn affidavit from the transferor stating the relationship and the intention to transfer the shares.

Private transfer between Siblings

  • Certified copies of Birth certificates for both children.
  • Certified copies of both IDs.
  • Sworn affidavit from the transferor stating the relationship and the intention to transfer the shares.

Private transfer between a Parent and a Child

  • Certified copy of Birth certificates (to confirm the relationship).
  • Certified copies of both IDs.
  • Sworn affidavit from the transferor stating the relationship and the intention to transfer the shares.

Private transfer from an Individual to a Company

  • Affidavit stating the reason and consent for the transfer.
  • Certified copy of the Individual ID.
  • Certified Copies of the Directors ID or the Signatories.
  • Certified copy of the Incorporation certificate.
  • Company seal to be affixed on the CDS-7 form.

Private transfer from a Company to an Individual

  • An affidavit signed by the Directors stating the reason for the transfer.
  • Minutes or Resolutions showing the approval to transfer the shares by the Directors.
  • Certified Copies of the Directors ID or the Signatories.
  • Certified copy of the transferee ID.
  • Certified copy of the Incorporation certificate.
  • Company seal to be affixed on the CDS-7 form.

Private transfer from one Company to another Company

  • A dully completed, witnessed CDS 7 form.
  • The latest annual return filed with the Registrar of Companies together with the filling receipt for the transferor and the transferee(Company/individual).
  • Confirmation from the Registrar of companies as to the shareholders and directors of the company (Form CR 12).
  • A declaration from registered shareholders confirming ownership and Disclosing that the shares are not held on behalf of another person.
  • Copies of Incorporation documents and board resolution authorizing the transfer.
  • A letter from the transferor giving the reasons for the proposed transfer.
  • Identification documents of the signatories.
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CDSC SHARE PRIVATE TRANSFER

This is the transfer of shares from the estate of a Deceased to the beneficiary.

  • If the value of the shares is more than Kshs.500,000/- the process should be claimed through the high court.
  • The charges for this kind of transfers are 1.5% of the Estate value. (Kshs.675 paid to CDSC & NSE).

The requirements are as follows: –

  1. Grant of letter of administration certified by the high court on each and every page.
  2. Certificate of confirmation of grant by the high court on each page.
  3. Fill out the sales form which requires to be signed by the administrator at the bottom right and an advocate to witness on the bottom left.
  4. Fill out the purchase form which requires to be signed by the beneficiary of the estate at the bottom right and an advocate to witness on the bottom left.
  5. Fill out the CDS-2 and the administrator to the estate to sign.
  6. Fill out the CDs-7 form which the administrator and the beneficiary need to sign.
  7. Attach original share certificates and if missing obtain an indemnity letter from the registrars.
  8. Certified copy of death certificate by a commission of oaths/lawyer.
  9. Certified copy of beneficiary’s identity cards by the commission of oaths/lawyer.
  10. Attach a surrender form/identification card of the deceased.

POINTS TO NOTE: –

If the value of the estate is less than Kshs. 500,000/- the process can be claimed through a Public trustee and provide the following: –

  • Certified copy of the death certificate.
  • Beneficiary’s certified copy of the ID.
  • Letter of probate and certificate of administration
  • Letter of indemnity.
  • Certification of documents can only be done by a Commissioner of Oaths. For Diasporas, it should be done by Notary Public Trustee at the Embassy or nearest consular.
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