Transfers and Conversions Overview

Table of Contents

Transfers Between Subregisters

NameDescriptionRequirements
CSP (Participant) to Issuer Sponsored TransferA request to transfer securities, Free of Payment (FoP), from a Participant controlled Account (HIN) in the CSP, to an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register.

Where the transferee is an existing holder on the Issuer Sponsored Sub-register, the Participant may provide the Securityholder Reference Number (SRN) in addition to the registration details. Participants can also lodge tax file numbers or exemption codes and Australian Business Numbers.

The issuer checks whether the holder has an existing holding and updates the financial product accordingly. If the details do not match an existing holding, the issuer opens a new holding and issues a new Securityholder Reference Number.

Issuer Sponsored to CSP (Participant) TransferA request to transfer securities, FoP, from an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register, to a Participant controlled Account in the CSP.

The Participant must provide the Securityholder Reference Number (SRN) in addition to the registration details recorded on the Issuer sponsored sub-register.

The Issuer checks whether the provided holder's registration details match with the provided SRN and if the details match the holding is updated accordingly.

For non-market Participants only: Transfers are relayed via the CSP to the Issuer’s registry, but must be supported by signed transfer request documentation lodged with the Issuer(Registry). The transfer will not be effected on the CSP subregister until authorised by the Issuer(Registry). ASX intends to seek regulatory clearance for removal of this additional paper-based validation requirement for non-market Participants for Day 1 of the CSP.

In a separate BAU initiative (prior to Day 1 of the CSP) ASX is reviewing the requirement to furnish an Issuers Registry with a signed transfer document/instrument for a subset of qualifying non-broker participants prior to a transfer being effected.


When transferring holdings between Sub-registers, the targeted holding must be identified with an appropriate identifier, as follows:

Sub-register

Identifier to use for transfers

CSP

Holder Identification Number (HIN)

Issuer Sponsored

Securityholder Reference Number (SRN)


A Participant may obtain an SRN directly from the Issuer (Registry) (refer to SRN Enquiry). The Issuer (Registry) has an obligation to authorise the transfer to the CSP within a designated time after receipt of a transfer request and, for non-market participants only, receipt of the supporting documentation.


Participant to Issuer Sponsored Transfer

A request to transfer securities, FoP, from a Participant controlled Account (HIN) in the CSP, to an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register.

Permitted Accounts for Participant to Issuer Sponsored Transfer

The following table depicts which Participant controlled Accounts (HINs) can be used as the Account (HIN) delivering units in a Participant to Issuer Sponsored Holding Transfer.

The delivering Account (HIN) must exist prior to the request of these transactions. The receiving Account (SRN) does not necessarily need to exist as these transactions may result in the Holding being moved to an existing SRN or a new SRN may be allocated.


 Participant controlled Account


Direct

Sponsored

Settlement Entrepot

Accumulation Entrepot

Registration Identifier^

Delivering Account

^temporary record of Registration Details that never contains any Holdings


Issuer to Participant Transfer

A request to transfer securities, FoP, from an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register to a Participant controlled Account (HIN) in the CSP.

Housekeeping

Unactioned Issuer Sponsored to Participant Transfer Requests will be housekept by the CSP at the end of the 2nd business day after the request was submitted. This will result in all Issuer Sponsored to Participant Transfer Requests having their status updated to cancelled where:

  • The Issuer Sponsored to Participant Transfer Request is in a pending status, AND;
  • The request was raised on a date that is six days or more before the date housekeeping occurs.

A Transfer/Conversion Request Status Advice will be generated and sent to the Participant and a Securities Message Cancellation Advice will be generated and sent to the Issuer (Registry) of the Security notifying them that the Issuer Sponsored to Participant Transfer Request that was pending acceptance has been cancelled by ASX Housekeeping.

Permitted Accounts for Issuer Sponsored to Participant Transfer 

The following table depicts which Participant controlled Accounts (HINs) can be used as the Account (HIN) receiving units in an Issuer to CSP (Participant) Sponsored Holding Transfer.

Both the delivering Account (SRN) and receiving Account (HIN) must exist prior to the request of these transactions.


 Participant controlled Account


Direct

Sponsored

Settlement Entrepot*

Accumulation Entrepot

Registration Identifier^

Receiving Account

^temporary record of Registration Details that never contains any Holdings

* There are no restrictions for receiving units into a Settlement Entrepot for a Non-Market Settlement Participant.

Holding Conversion

A Holding Conversion represents the movement of securities for Holding Management purposes. It does not affect a change of the Registered Holder Name. 

ConversionDescription
Issuer Sponsored to CSP (Participant) ConversionA request to convert securities, FoP, from an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register, to a Participant controlled Account (HIN) in the CSP.
CSP (Participant) to Issuer Sponsored ConversionA request to convert securities, FoP, from a Participant controlled Account (HIN) in the CSP, to an Issuer Sponsored Holding, maintained on the Issuer Sponsored Sub-register.


Issuer Sponsored to Participant Holding Conversion

Before a Participant can move holdings from an Issuer Sponsored Sub-register to the CSP (Participant) Sponsored Sub-register, it must enter into a Sponsorship agreement with the Holder. Both the delivering Account (SRN) and receiving Account (HIN) must exist prior to the Conversion request.


Issuer Sponsored to Participant Holding Conversion 

Housekeeping

Unactioned Issuer Sponsored to Participant Conversion Requests will be housekept by the CSP at the end of the 2nd business day after the request was submitted. This will result in all Issuer Sponsored to Participant Conversion Requests having their status updated to cancelled where:

  • The Issuer Sponsored to Participant Conversion Request is in a pending status, AND;
  • The request was raised on a date that is six days or more before the date housekeeping occurs.

A Transfer/Conversion Request Status Advice will be generated and sent to the Participant and a Securities Message Cancellation Advice will be generated and sent to the Issuer (Registry) of the Security notifying them that the Issuer Sponsored to Participant Conversion Request that was pending acceptance has been cancelled by ASX Housekeeping.

Permitted Accounts for Issuer Sponsored to Participant Conversion

The following table depicts which Participant controlled Accounts can be used as the Account receiving units in an Issuer to CSP (Participant) Holding Conversion.

 Participant Controlled Account


Direct

Sponsored

Settlement Entrepot

Accumulation Entrepot

Registration Identifier^

Receiving Account

^A temporary record of Registration Details that does not contains Holdings.


Participant to Issuer Sponsored Holding Conversion

No change of registration name or address can occur with a conversion. In the scenario where an Account (SRN) does not exist prior to the Holding Conversion, the Issuer (Registry) will establish a new holding as a result of the conversion. Further, if an existing holding on the Issuer Sponsored Sub-register is referenced, and the registration details advised in the conversion request do not match the registration details of the nominated holding, the Issuer (Registry) will establish a new holding.


Permitted Accounts for Participant to Issuer Sponsored Conversion

The following table depicts which Participant controlled Accounts (HINs) can be used as the delivering Account (HIN) in a CSP (Participant) to Issuer Sponsored Holding Conversion.


 Participant controlled Account


Direct

Sponsored

Settlement Entrepot

Accumulation Entrepot

Registration Identifier^

Delivering Account

^temporary record of Registration Details that never contains any Holdings



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