Annulment of lost securities and instruments

Providing assistance to replace lost, stolen or destroyed securities or instruments (e.g. savings books, promissory notes, cheques) falls within the competence of notaries.

In order to provide a replacement it is required to render the given security or instrument annulled, which may be requested from the notary by way of an application. The essence of annulment is that no right or claim set forth in the annulled securities/instruments may be exercised, or enforced, respectively, any more, and such securities/instruments may be replaced.

The notary posts a public notice setting out data included in the application. Such notices have to be published for 6 months – relating to promissory notes and cheques for 1 month, and it may be reduced to 1 month in case of instruments.

The publication of the notices is ensured by the MOKK, by providing an online public electronic registry continuously available for inspection free of charge.

The reason such public notices are required to be posted is that while they are accessible the possessor of the given securities/instruments may present such securities/instruments before the proceeding notary or may report and supply information on their whereabouts. In such cases the notary terminates the procedure. However if such securities/instruments are not presented or no information is supplied on their whereabouts, the notary renders such securities/instruments cancelled. Subject to the notary’s decree on annulment the issuer issues new securities/instruments and places them at the beneficiary’s disposal.