Companies Act, 1973 (Act No. 61 of 1973)Chapter V: Share capital, Acquisition by Companies of own Shares, Shares, Allotment and Issue of Shares, Members and Register of Members, Debentures, Transfers, and Restrictions on Offering Shares for SaleTransfer of Shares and Debentures133. Registration of transfer of shares or interests |
| 1) | Any transfer of shares of or interest in a company shall be registered by the company by entering in its register of members the name and address of the transferee, the description of the shares or interest transferred and the date of the registration of such transfer and, if it is a transfer of partly paid-up shares of or interest in an existing company, the amount outstanding on each share or interest, shall be entered in the said register. |
| 2) | Notwithstanding anything in the articles of a company, it shall not be lawful for the company to register a transfer of shares of or interest in the company unless a proper instrument of transfer has been delivered to the company: Provided that nothing in this section shall prejudice any power of the company to register as a member any person to whom the right to any share of the company has been transmitted by operation of law. |
| 3) | On the application of the transferor of any share of or interest in a company, the company shall enter in its register of members the matter prescribed by subsection (1) in the same manner and subject to the same conditions as if the application for the entry were made by the transferee. |
| 4) | The registration of any transfer of shares of or interest in a company shall be subject to the law relating to stamp duty and estate duty. |