Affidavit of Lost Share Certificate in Kenya

Affidavit of Lost Share Certificate in Kenya

A share certificate proves your ownership in a company. While most share certificates, especially in listed companies, have been immobilized.

If you lose a share certificate, you must prepare an affidavit of the lost share certificate to facilitate its replacement. This document is a sworn statement affirming the loss of the certificate and is typically required by share registrars to process your request for a duplicate certificate.

Why is an Affidavit of Lost Share Certificate Required?

A share certificate serves as legal proof of your ownership of shares in a company. Losing this vital document could lead to challenges in exercising your shareholder rights, including voting, receiving dividends, or selling your shares. To safeguard against fraudulent claims and ensure proper procedures are followed, registrars require specific documents, including an affidavit of lost share certificate.

Documents Required to Replace a Lost Share Certificate in Kenya

When applying for a duplicate share certificate in Kenya, you will need to provide the following documents:

1. Affidavit of Lost Share Certificate: This is the primary document needed to initiate the process. It should include details about how the certificate was lost, the certificate number (if known), and your commitment to take responsibility for any potential issues arising from its loss.
2. Indemnity to the Share Registrar: The indemnity guarantees the registrar that you will bear any losses or liabilities that may arise due to the issuance of a duplicate certificate. Registrars may have specific formats for this indemnity, so it is essential to confirm their requirements.
3. Certified Copy of National ID: A certified copy of your national identification card or passport is required to verify your identity.
4. Letter Requesting a Duplicate Certificate: Write a formal letter addressed to the share registrar explaining the circumstances of the loss and requesting a replacement certificate.
5. Affidavit of Names (If Applicable): If there is a discrepancy between the name on your ID and the original share certificate, you will need an affidavit explaining the difference.
6. Police Abstract: Obtain a police abstract as evidence that you reported the loss of the share certificate. This document further legitimizes your claim and assures the registrar that the loss has been documented with the authorities.

Steps to Obtain a Duplicate Share Certificate

1. Report the Loss: Report the loss of your share certificate at the nearest police station and obtain a police abstract. Ensure you provide accurate details of the loss.
2. Obtain an Affidavit: Obtain an affidavit of lost share certificate before a Commissioner for Oaths or Notary Public. Include all relevant details about the loss, such as the date, location, and circumstances.
3. Compile Supporting Documents: Gather all the required documents, including the indemnity, certified copy of your ID, and any other documents specified by the share registrar.
4. Submit Your Application: Submit your application and the affidavit and supporting documents to the share registrar. Ensure you follow the registrar’s specific submission process, which may involve a processing fee.
5. Follow Up: After submitting your application, follow up with the registrar to track the progress of your request. They may require additional information or documents to complete the process.

Tips for Preparing an Affidavit of Lost Share Certificate

• Be Clear and Accurate: Ensure the affidavit contains clear and concise details about the loss of the share certificate.
• Engage a Professional: If you are unsure how to draft the affidavit or indemnity, consult a legal professional or the share registrar for guidance.
• Keep Copies of All Documents: Retain copies of the affidavit, police abstract, and other documents for your records.