Q&A

Dominic Coyle answers your questions

Share cert dilemma

Recently I went to sell my Vodafone shares, only to discover that my share certificate was invalid. Apparently, in summer 2006, there was a share re-organisation, and replacement certificates were issued by Computershare. However, I didn't receive my new certificate and when queried with Computershare, they maintained that it was posted out in summer 2006. I asked for proof of postage, but because it was not sent by registered post, they couldn't prove it. However, the fault apparently lies with me, and to receive a replacement will cost me £32.

I know that I never received the new certificate in 2006 and began to do some research. I found out that others in my home town had not received them either, and then I rang my previous employer (a financial institution) and they were able to tell me that this problem was not uncommon, but unfortunately the onus was on the shareholder to have the correct certificate (irrespective of it not being sent or being lost in the post) and therefore must incur the financial penalty of £32 to receive a replacement one. What advice can you give?

Mr AG, email

Irish investors retain great affinity for share certificates - perhaps because of the feeling of ownership they engender or just liking to have the certificate in their hands. Of course, that is also their weakness: whoever holds the certificate effectively controls the shares.

Certainly the registrar - Computershare in this case - will have a name and address to go with the certificate, and while your name appears on the certificate, an unauthorised user could simply, and fraudulently, contact the registrar and change the address.

Computershare has no reason to state that it posted a certificate that it did not post. And, to be fair, I have heard no clamour, localised or otherwise, about undelivered certificates. However, if there has been a cluster of such events in your area, it should certainly be reported to An Post and, possibly, the police.

What else can you do? Well, firstly, ascertain that the share certificate sent out to you has not been encashed. Computershare should be able to tell you whether the certificate is still extant. If so, and if it is, indeed, not lying unopened somewhere in your home, it may be languishing in the delivery office somewhere.

Ultimately, if it cannot be found, you are going to have to pay for a new cert before you will be able to sell those shares.

Krona rates

I work as a cartoonist for a Swedish newspaper but I live in Ireland. I am paid in Swedish krona through the Bank of Ireland. The rate they give me for the krona is always (we're talking over 10 year) well below the official rate. For example, I recently received a notification of a payment of 20,000 Swedish krona. The rate given by the Bank of Ireland was 9.68. The Irish Timesgave the rate as 9.43. Can a bank set the rate at any figure?

Mr A.K., email

The rate quoted in The Irish Timesis the official Central Bank rate for the day and not the rate charged by the banks. The banks, as far as I know, can charge what they like, although they do have to notify the Central Bank and Financial Services Authority of their policy.

Having said that, a 2 per cent margin sounds steep. Are other banks offering better rates? Also, it might be worthwhile seeking a higher rate from Bank of Ireland, given that you are a long-standing customer.

• Please send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara Street, Dublin 2, or by e-mail to dcoyle@irish-times.ie.

This column is a reader service and is not intended to to replace professional advice. Due to the volume of mail, there may be a delay in answering queries. All suitable queries will be answered through the columns of the newspaper. No personal correspondence will be entered into.