Lost Share Certificates / Power of Attorney

Gene_Genie

Hi. Apologies as I know the certificate subject has been covered up to a point and the PoA issue is separate.........
We have lost/misplaced around 15 share certificates of my mothers (who I have PoA  for).
This was around 2 months ago, so unfortunately I think they will stay missing. 
Slightly different scenario, as I have photographic evidence of each individual share.
Will this make a difference/help when the time comes to sell the shares/prove ownership?

In the meantime I have contacted Equiniti re replacement certificates, but they are dragging their feet,
telling me that as my late father was the original attorney on my mothers PoA, that myself being the replacement attorney would not 
validate it, and that I would have to renew the document with myself as the main attorney. 
I have argued that this is incorrect, and that as my father passed away (around 18 months ago), I automatically 
become the main attorney/step in. I have sent them proof of this gathered from the Office of the Public Guardian`s website 
and am awaiting a reply. I have also had no problems with other organisations with using the PoA with myself as the replacement 
attorney....................Any comments would be very much appreciated.

Malthusian

Will this make a difference/help when the time comes to sell the shares/prove ownership?

Probably not. Obtaining a replacement certificate usually involves paying a fee and signing an indemnity to say that you'll take responsibility if there is any fallout (e.g. someone finding the first certificate and trying to claim it as valid). You having photos won't alter the need for replacement certificates. The photos only tell the registrar what they already know from their own records.

The certificate numbers in the photos might be useful in helping the registrar locate your mother's record.

In the meantime I have contacted Equiniti re replacement certificates, but they are dragging their feet, telling me that as my late father was the original attorney on my mothers PoA, that myself being the replacement attorney would not validate it, and that I would have to renew the document with myself as the main attorney. 

That sounds like complete nonsense. What do they think replacement attorneys are for? If several other organisations have accepted instructions from you, it sounds like the POA is valid as it is.

xylophone

You and your father were named on an either to sign basis?
https://www.gov.uk/power-of-attorney/choose#:~:text=You can choose one or,make decisions separately or together.
You can choose one or more people to be your attorney. If you appoint more than one, you must decide whether they’ll make decisions separately or together.
If so, I can't see Equiniti's problem and I'd make a formal complaint if they continue to be obstructive.

With regard to the missing certificates
https://www.shareview.co.uk/4/Info/Portfolio/default/en/Home/Shareholders/Pages/LostCerts.aspx

Gene_Genie

Thanks for your comments......
Just received this from Equiniti:

"Whilst a replacement attorney is there to take over should anything happen to the main attorney, the lasting power of attorney needs to be amended before the replacement attorney can use it" 

Chino

xylophone said:

You can choose one or more people to be your attorney. If you appoint more than one, you must decide whether they’ll make decisions separately or together.
If so, I can't see Equiniti's problem and I'd make a formal complaint if they continue to be obstructive.

You should have carried on reading the page you linked to:

Replacement attorneys
When you make your LPA you can nominate other people to replace your attorney or attorneys if at some point they cannot act on your behalf anymore.

Gene_Genie

I was well aware of the section on Replacement Attorneys. My point being, that Equiniti state the document needs amending, whilst the OPG do not state or imply this........ 

Malthusian

"Whilst a replacement attorney is there to take over should anything happen to the main attorney, the lasting power of attorney needs to be amended before the replacement attorney can use it" 

I have absolutely no idea what they are on about. Make a formal complaint and inform Equiniti you will hold them responsible for any delay in selling the shares due to their refusal to accept a valid lasting power of attorney.

They would be within their rights to ask for your father's death certificate as proof that your rights as replacement attorney are now active, but the power of attorney document does not need to be amended or re-registered; when he died you automatically became your mother's attorney.

Gene_Genie

To conclude.
 I eventually managed to contact the Office of the Public Guardian and received a definitive answer........ If the main attorney dies, then apparently for the reserve attorney to step up and legally take the role as main attorney, then the LPA, DOES have to be returned to the OPG for amendment....... This seems to go against everything I had read or had been advised on the matter (including the OPG own website). Apparently, the banks & organisations I had previously used the LPA with, shouldn't have allowed me to use it, as it had not been amended..........so I'm in the process of sending the LPA back to the OPG for amendment....... Thanks for everyone's input.