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The gradual transfer of securities under the Central Depository participants is associated with two basic procedures for the settlement of legacy, depending on the status of the deceased’s account, i.e. whether the asset account in question is kept by a Central Depository participant, or whether the account has not yet been transferred under the participant and is registered as an unintegrated account (read the difference). It is not possible to deal with legacy directly at the Central Depository. It is always necessary to contact one of the Central Depository participants.

1. The deceased’s account is maintained under a participant

The assignees will always settle the legacy with the participant that has kept the asset account of the deceased holder. The assignees may deal with the legacy issue together or independently. The assignees must always have an asset account kept under a Central Depository participant; however, this may not be the same participant that has maintained the deceased’s account. For the purpose of the legacy settlement, it is necessary to submit an original or a certified copy of the court decision.

2. The deceased’s account is registered as an unintegrated account

The assignees may settle the legacy through any participant who renders this service or a participant maintaining an account for the assignee. The assignees may deal with the legacy issue together or independently. If the legacy is settled for more beneficiaries, the participant will request the assistance of the Central Depository that centralizes the records of pending legacies. For the purpose of the legacy settlement, it is again necessary to submit an original or a certified copy of the court decision.

Securities owners can get rid of those securities that they consider for themselves as worthless (and from which they do not want to pay any fees) by donating them to the Endowment Fund of the Central Securities Depository Prague.