Account and Holder Locking and Unlocking Overview

Table of Contents


Account and Holder Locking and Unlocking Overview

A Participant has the ability to lock and and unlock for an account type of sponsored after receiving notification of death, bankruptcy or investigation (non-specific) purposes. Participants also have the ability to lock all account types if a court order is received. When an account status is changed, the Participant is alerted to this change.

The Participant who is in control of the account is able to request the lock or unlock of the account. 

The unlock can only occur after a lock has been applied. When the lock has been removed successfully, the status of the account will revert back to Active.

Account Locking and Unlocking Requests should be submitted in accordance with the Operational Procedure and Guidelines. Refer to  Section 04 - Account administration for more information. 

Death

Account Types

The following table outlines the account types which may be locked due to a deceased holder. 


SponsoredDirectSettlement EntrepotAccumulation Entrepot
Death

Holder Types

The following table outlines the holder types which may be locked due to a deceased holder. 


IndividualCompany
Death

Request to Lock

Scenario Dependent Fields

The Participants have the ability to lock an account after receiving notification of death. The following fields are required to lock: 

FieldMandatoryField options
Account identifier (HIN)

Holder identifier

Action
Update (UPDT)
Holder status
Locked (LOCK)
Holder update reason
Notification of death (NODE)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The current account and current holder status must be active
  • The account update message must not include other attributes of the holder or account to be modified

Process 

Upon successful validation, the holder record and the related account will be locked. The account name will also be updated, prepended with 'EST'.

Request to Unlock

Scenario Dependent Fields

The Participants have the ability to unlock an account after it has been locked due to death. Once the relevant legal processes have been completed, the Participant is required to unlock on the account. The following fields are required to unlock: 

FieldMandatoryField options (if applicable)
Account identifier (HIN)

Holder identifier

Action
Update (UPDT)
Holder status
Active (ACTV)
Holder update reason
  • Grant of Probate or Letters of Administration (GPLA)
  • Small Estate Statement (SEST)
  • Transfer Indemnity Bond (TIBD)
  • No holdings (NHLD)
Date of Death
In the format of YYYY-MM-DD

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The account status and holder status must be locked with a reason of notified as deceased
  • The account update message must not include other attributes of the holder or account to be modified

Bankruptcy

Account Types

The following table outlines the account types which may be locked due to a bankrupt holder. 


SponsoredDirectSettlement EntrepotAccumulation Entrepot
Bankruptcy

Holder Types

The following table outlines the holder types which may be locked due to a bankrupt holder. 


IndividualCompany
Bankruptcy

Request to Lock

Scenario Dependent Fields

The Participant has the ability to lock an account after receiving notification of bankruptcy. The following fields are required to lock: 

ASX FieldMandatoryField options
Account identifier (HIN)

Holder identifier

Action
Update (UPDT)
Holder status
Locked (LOCK)
Holder update reason
Notification of Bankruptcy (BKRL)
Date of Bankruptcy
In the format of YYYY-MM-DD

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the account and holder
  • The current account and holder status must be active
  • The account update message must not include other attributes of the holder or account to be modified


Request to Unlock

Scenario Dependent Fields

The Participant has the ability to unlock an account after it has been locked for bankruptcy. The following fields are required to unlock: 

FieldMandatoryField options (if applicable)
Account identifier (HIN)

Holder identifier

Action
Update (UPDT)
Holder status
Active (ACTV)
Holder update reason
  • Legal Trustee Request (LTRQ)
  • Annulment (ANNT)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The holder status and account status must be locked with a reason of notified as bankrupt
  • The account update message must not include other attributes of the holder or account to be modified


Investigation (non-specific) reason

Account Types

The following table outlines the account types which may be locked due to a non-specific reason. 


SponsoredDirectSettlement EntrepotAccumulation Entrepot
Investigation (non-specific) reason

Request to Lock

Scenario Dependent Fields

There are circumstances where an account needs to be locked by the Account Sponsor for a non-specified reason. The following fields are required to lock: 

FieldMandatoryField options
Account identifier (HIN)

Account status
Locked (LOCK)
Account update reason
Non-specific (NOSC)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The current account status must be active
  • The account update message must not include other attributes of the holder or account to be modified

Request to Unlock

Scenario Dependent Fields

An account may be unlocked after it has been locked for a non-specified reason. The following fields are required to unlock: 

FieldMandatoryField options (if applicable)
Account identifier (HIN)
Account statusActive (ACTV)
Account update reasonNon-specific (NOSC)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The account status must be locked with a reason of non-specific
  • The account update message must not include other attributes of the holder or account to be modified


Court ordered

Account Types

The following table outlines the account types which may be locked due to a court order. 


SponsoredDirectSettlement EntrepotAccumulation Entrepot
Court Ordered

Request to Lock

Scenario Dependent Fields

The Participant have the ability to lock an account after receiving a court order. The following fields are required to unlock/lock: 

FieldMandatoryField options
Account identifier (HIN)

Account status
Locked (LOCK)
Account update reason
Subject to Court Order (SNCO)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The current account status must be active
  • The account update message must not include other attributes of the holder or account to be modified


Request to Unlock

Scenario Dependent Fields

The Participant has the ability to unlock an account after it has been locked due to a court order. The following fields are required to unlock: 

FieldMandatoryField options (if applicable)
Account identifier (HIN)
Account statusActive (ACTV)
Account update reasonSubject to Court Order (SNCO)

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The account status must be locked with a reason of subject to court order
  • The account update message must not include other attributes of the holder or account to be modified


Account Locked in Error

Accounts may be unlocked when the account has been locked in error. 

Account Types

The following table outlines the account types which may be unlocked due to it being locked in error. 


SponsoredDirectSettlement EntrepotAccumulation Entrepot
Locked in Error

Holder Types

The following table outlines the holder types which may be unlocked due to it being locked in error. 


IndividualCompany
Locked in Error

Request to Unlock

Scenario Dependent Fields

Participants are able to unlock an account which has been locked in error using the below fields:

FieldMandatoryField options (if applicable)
Unlock account locked in error
Account identifier (HIN)
Account statusActive (ACTV)
Account update reasonError (ERRO)
Contact reference
Unlock holder locked in error
Account identifier (HIN)
Holder identifierUpdate (UPDT)
Holder statusActive (ACTV)
Holder update reasonError (ERRO)
Contact reference

Validations

The CSP will perform the following validations: 

  • The Participant must have a controlling relationship of the holder
  • The account status must be locked with a reason of subject to court order or non-specific
  • The holder must be locked with a reason of notification of bankrupt or notification of death

  • The account update message must not include other attributes of the holder or account to be modified
  • ASX Operations must not have requested the lock on the account




Related Pages:

There are no related labels.

Browse Popular Pages:

No labels match these criteria.



This document provides general information only. ASX Limited (ABN 98 008 624 691) and its related bodies corporate (“ASX”) makes no representation or warranty with respect to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from anyone acting or refraining to act in reliance on this information.

© 2022 ASX Limited ABN 98 008 624 691