The share ledger’s history is filled with events, and sometimes mistakes happen.
If an event has already been completed, you must correct the mistake by making a correction.
What Does a Correction Involve?
Making a correction means removing an event by simply deleting it.
Note: Deleting an event will cause all subsequent events that occurred after the corrected event to disappear and they will need to be re-registered.
This is necessary because the share ledger requires that all events are handled in chronological order for the system to:
Automate changes,
Ensure traceability, and
Preserve the integrity of the share ledger.
Corrective Registration
In some cases, a correction can be very extensive if many subsequent events need to be re-registered.
For example, if a transfer between two parties was missed or not reported to the board, you can instead register a corrective transaction.
You can also add a note stating that the transfer originally occurred on an earlier date.
In such cases, it is up to the company to assess whether it is necessary to go back and redo the registrations or handle it through a corrective transaction.
How to Make a Correction
Go to Share Ledger Events in the menu on the left.
To the right of the event, click on the three dots.
Select Delete.
In the field that appears, type "Permanently delete".
Click Correct.
(Then steps 1 to 5 are shown as illustrations.)
1.
2.
3.
4 & 5.
