| Rights of MSD account holders | |
» | MSD will be holding shares in trust for the benefit of the actual shareholder. |
» | MSD notifies the names of the beneficial shareholders to the issuing company. Thus dividends are directly paid by issuing company to the shareholders. |
» | MSD account holders will have the same rights as the shareholders whose name appear in the company register. As such voting rights are exercised directly by shareholders. |
How a MSD account will operate | |
» | Investors need to open accounts by filling up respective forms and submit them to the Maldives Securities Depository. |
» | To deposit securities in the MSD account the Securities Deposit Slip & Transfer Form (Form 8) need to be filled and submitted to the MSD with the original share certificate. |
» | Investors will have nil balance in their accounts until they purchase shares through the Maldives Stock Exchange or deposit shares in the MSD account. Shares will be transferred from one investor's account to another investor's account within the MSD by a mere book entry resulting in script less trading. |
» | Transfers of shares in and out of the MSD will be sent to the respective company for registration. This would only happen when a share certificate is deposited in the MSD or when an investor who already has shares in the MSD needs the physical share certificate. i.e. withdrawal of shares from MSD. |
» | MSD will send statements of share transactions to the buyer and sellers for every trade, and upon request. |
| MSD opening hours and location | |
| MSD opening hours |
