Help needed: Winding up SMSF

[goldrush]

As trustee of my SMSF which I am winding up, I have meet with a problem where I am required to have a "Securities Transfer Form" signatures guaranteed with a Medallion Stamp. (Canadian Shares) I am at Petrie just north of Brisbane so how do I comply?
Hopefully someone can help.
Regards Bill

 

[pixel]

As trustee of my SMSF which I am winding up, I have meet with a problem where I am required to have a "Securities Transfer Form" signatures guaranteed with a Medallion Stamp. (Canadian Shares) I am at Petrie just north of Brisbane so how do I comply?
Hopefully someone can help.
Regards Bill

Sorry Bill,
Can't help you with the specific question - assuming you wish to transfer the shares to a new, non-Super owner.
Prior to setting up my own SMSF, I queried my accountant about winding-up. After weighing up all the impediments, requirements, red tape, I decided that selling all shares held in SMSF and transferring the cash would be the easiest method by far.

(Of course, I'm talking about position sizes that I can quite easily sell and buy back if I so desire. I guess, if you were talking "substantial" holdings, you would not ask on this Forum, but simply tell your accountant or broker to execute the off-market transfer for you and report back to you when it's done.)

 

[McLovin]

This is just my opinion and may not work but in lieu of a medallion stamp you could get the document notarised by a notary public and then have the notary public's signature authenticated by DFAT issuing an Apostille (the Apostille makes the document legal in all countries, including Canada, who are signatory to the relevant Treaty). This would confirm the signature is legitimate but wouldn't provide any financial guarantee to whoever is requesting the medallion. A NP will charge ~$70 for the notarisation, and an Apostille will cost $60. Not a cheap exercise if you have a small holding.

The NP is an officer of the relevant Supreme Court and the DFAT is a government department so it's pretty watertight from the perspective of the counter-party that your signature is authentic but they may not accept it.

Is this for a Canadian based broker, because I though Medallions were a strictly US thing?

 

[goldrush]

Thanks to both,
Yes Canana shares require the same as USA & I had noted the Hague convention reference but it seem not to be able to use it (but I should ask any way). It all seems to be too hard & a lesson on takeovers!! I will keep working at it.

Regards