How do I obtain the Facility?
- The CDS account holders who wish to subscribe to this facility should fill the CDS 28 Form. (Section 02)
- The CDS 28 form can be downloaded through the link given above or this can be obtained from the stock broker.
- A hard copy of the duly completed form should be submitted to the CDS through the stock broker.
The information I’m entitled to
An SMS will be sent to the account holder if the balances of his/her account is changed due to the following reasons.
- Sale of shares
- Purchase of shares
- Inter/Intra account transfer
- Deposit of share certificate(s)
- Direct upload/deposit of shares
- Withdrawal of shares
Terms & Conditions
The SMS alert service will be provided to the Account Holder only at his/her request.
The SMS alerts will be sent to the account holder on the mobile phone number provided in the registration form submitted to the CDS for activation of the service.
The account holder’s mobile device should be GSM standard compliant and should have capacity to receive SMS alerts which include more than 160 characters.
The delivery of the SMS alert would be entirely based on the service availability of the Cellular Service Provider and connectivity with other cellular circles of the Cellular Service Provider or in circles forming part of the part of the roaming GSM network agreement between such Cellular Service Providers.
The account holder is solely responsible for immediately notifying the CDS in writing through the stock broker of any change in the mobile number recorded with the CDS or lost/theft of the mobile phone. In the event the account holder fails to notify the CDS as aforesaid, the CDS will not be liable for any damages caused to the account holder as a result of sending the SMS alerts to the mobile phone recorded with the CDS.
The service is dependent on the infrastructure, connectivity and other services provided by the Cellular Service Providers within and outside Sri Lanka.
Accordingly the timeliness, accuracy and readability of the SMS alerts will depend on factors affecting the Cellular Service Providers and other related Service Providers. The CDS will not be liable for non-delivery or delayed delivery of SMS alerts and errors, loss or distortion of SMS alerts in transmission to the account holders.
The CDS will endeavor to provide the service on a best effort basis and the CDS will not be responsible for the non-availability of the service or non-performance by any Cellular Service Provider or other service providers or any loss caused to the account holder as a result of use of the service (including relying on the alerts for the investment or business or any other purposes) for causes which are attributable to/and are beyond the control of the CDS.
Withdrawal or Termination
The CDS may suspend or terminate the service without prior notice to the account holder if;
- The account holder has breached the terms & conditions governing the provision of the service
- The CDS has been notified in writing of the death, bankruptcy or lack of legal capacity of the account holder
The CDS may temporarily suspend the provision of the service at any time, without prior notice to the account holders who have subscribed for the service, in order to carry out any maintenance work or repair or in case of any emergency or for security reasons, which in the opinion of the CDS require the temporary suspension of the service.
Notwithstanding anything to the contrary, the account holder may terminate the SMS alert service at any time, upon submitting a duly completed de-activation form through the participant.
Disclaimer of Liability
This service is only an alert mechanism for the account holder and is not in lieu of the statements sent by the CDS or the Contract Notes required to be sent by the stockbrokers. Therefore, the account holder is required to verify the transactions and balances in the CDS account concerned and should not solely rely on the SMS alerts for any purpose.
The CDS shall not be a party to any dispute that may arise between the account holder and his/her Cellular Service Provider and makes no representation of gives no warranty with respect to the quality of the service provided by the Cellular Service Provider or guarantee for timely delivery or accuracy of the contents of each alert.
The CDS will not be liable for any delay or inability of the CDS to send the alert or for loss of any information in the alerts when transmitting.
The CDS shall not be liable for any losses, claims and damages arising from negligence, fraud, collusion or violation of the terms herein on the part of the account holder and/or a third party.
The CDS shall not be liable for access of SMS alerts by any other person other than the account holder and any breach of confidentiality by the Cellular Service Provider or by any third person due to unauthorized access to the information meant for the account holder.
Any complaint pertaining to unauthorized purchases/sales should be made to the CEO/Compliance Officer of the relevant broker firm immediately, in writing. If the firm fails to respond to your complaint within 7 days of the complaint, you are advised to inform the CSE immediately.
The CDS reserves the right to levy fees from time to time as it deems fit for the provision of the service.
The CDS may amend the terms and conditions governing the provision of the service with or without giving any prior notice to the account holders.
Governing Law and Jurisdiction
Provision of the service shall be governed by the laws of Sri Lanka and will be subject to the exclusive jurisdiction of the Sri Lankan courts.
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