CST Trust Company
PO Box 700
Montreal, QC H3B 3K3
Has your security certificate been lost, stolen or destroyed? We can issue a replacement.
If you are the registered owner or their legal representative, you can contact us to advise that your certificate has been lost, stolen or destroyed. Please provide the names of the registered investor, their address, an account number and, if known, the certificate number that was lost.
Note: If you are reporting a lost certificate for a deceased investor, please review our estate transfer page for additional information.
Once we have received and validated your request, we will then place a stop against the certificate and provide you with information on what you will need to do next. This will usually include obtaining a surety bond to protect against the original certificate being subsequently negotiated. You will also need to remit a percentage of the market value of the lost security as coverage under the surety bond.
Why do you need special documents to replace certificates?
Under corporate law, certificates are negotiable instruments. If a certificate is properly endorsed and presented for transfer, after a replacement has been issued, we may be obliged to transfer the securities.
This transaction would result in two certificates being outstanding for the same securities.
The law protects a person who buys securities from another in good faith, without knowing that the certificate has been reported lost, stolen or destroyed and subsequently replaced.
Further, in theory, shares have an unlimited potential value. Therefore shares of little worth at the time of loss may be very valuable at a later date.
Why do I need to notify you in writing?
To place a stop transfer notation against a certificate, we require notice in writing from the security holder or their representative.
What does a surety bond do?
If the lost, stolen or destroyed certificate is negotiated and CST is obliged to transfer the securities, a claim will be made against the surety company. The surety company buys the equivalent securities on the market, which we cancel to offset the overissuance of securities caused by the lost certificate being negotiated.
What does a surety bond cost?
The cost of a surety bonds varies from surety company to surety company but the premium is usually in the range of 2-5 percent of the current market value of the shares, or face value of the debt instrument.
What does the affidavit of loss say?
The affidavit from the security holder or their representative confirms:
registered holder's name.
- The issuer’s name, class of shares or debt issue, certificate number(s) and number of shares or principal amount of the debt.
- That the certificate(s) has/have not been sold, assigned, pledged, hypothecated or otherwise disposed.
- Whether the certificate(s) was endorsed.
- Full details of the loss and the efforts made to find the lost, stolen or destroyed certificate(s).
What are the terms of the surety bond?
The surety bond is an open penalty lost instrument bond issued by a surety company authorized to do business in Canada. This bond must:
- Be in favour of the issuer and CST Trust Company, as the issuer’s transfer agent and registrar.
- Indemnify the issuer and CST Trust Company against all actions, proceedings, claims and demands that may be made against them as a result of replacing the certificate(s).
- Make the principal and the surety jointly and severally liable.
- Include an undertaking to return the lost, stolen or destroyed certificate(s) if they come into the custody or control of the security holder or the surety company.
How do I complete the agreement of indemnity/affidavit of loss?
If more than one person is completing the form, the first person can provide their information in the body of the form, and the others will provide their information in the extra signing panels on pages 2 and 3 of the form.
If the shareholder is deceased and the personal representative(s) is applying for the replacement, please note that the personal representatives and the estate beneficiaries must complete the form.
The numbers used relate to the relevant sections in the form:
- Enter the address of the first person completing the form and the certificate number, number of shares, name of issuing corporation and name of the registered holder.
- Enter a brief description of how the certificate was lost, stolen or destroyed.
- Put a check mark in the appropriate place to show whether the certificate(s) was endorsed, i.e. the registered holder had signed the power of attorney the back of the certificate(s) or had signed and attached a separate form. Please also indicate whether the signature was guaranteed.
- If you are completing the form in a representative or fiduciary capacity, indicate the nature of your capacity and list the names of any others who have an interest in the securities. If there is not enough space on the form, you can add an additional page, ensuring that this page is initialled by all signatories, including the commissioner or notary taking the affidavit.
- Person signing the form must complete a signing panel and swear the affidavit before a notary public or commissioner for oaths.
Please note: If you are completing the form on behalf of a corporation, there are special panels to be completed. If there are not enough signing panels, please make extra copies of page 2.
Where do I send the completed agreement of indemnity/affidavit of loss?
Send the completed form and payment for the premium as requested by us to:
CST Trust Company
PO Box 700
Montreal, QC H3B 3K3