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 Debentures135. Manner in which securities may be transferred |
| 1) | Notwithstanding the provisions of any law to the contrary or of the memorandum or articles of any company or of any contract relating to the transfer of any security- |
| a) | a security may be transferred by means of a securities transfer form; or |
| b) | a security may be transferred by means of a securities transfer form and a broker's transfer form: Provided that- |
| i) | such broker's transfer form shall be prepared- |
| aa) | by a stock-broker as defined in section 1 of the Stock Exchanges Control Act, 1947 (Act No. 7 of 1947); |
| bb) | by a banking institution registered otherwise than provisionally under the Banks Act, 1965 (Act No. 23 of 1965), and authorised thereto in writing by the Registrar, at a branch thereof designated by the Registrar; |
| cc) | by a stock exchange in the Republic; or |
| dd) | by a company authorised thereto in writing by the Registrar and carrying on the business of a clearing-house for securities on such stock exchange, and shall bear the signature of the stock-broker concerned or of a person in the service of the banking institution, stock exchange or company concerned or an authorised facsimile of that signature; |
| ii) | such securities transfer form need not be completed with reference to the particulars relating to the transferee and the consideration passing; |
| iii) | a separate broker's transfer form may be used in respect of each person to whom transfer is passed. |
| 2) | The execution of a securities transfer form or a broker's transfer form need not be attested. |
| 3) | Nothing in this section contained shall be construed as- |
| a) | preventing the transfer of a security by means of any form in use immediately prior to the commencement of this section or any form prescribed at any time under this Act; |
| b) | entitling the issuer of any security to refuse the registration of any person as the holder of that security on the ground that the transfer purports to be effected by means of a securities transfer form or a broker's transfer form; |
| c) | affecting the provisions of any law or of any memorandum or articles of any company or other body corporate or of any contract which deals with the manner in which any document shall be signed or sealed by or on behalf of any company or other body corporate; or |
| d) | affecting the liability for the payment of any duty payable in respect of the registration of the transfer of any security. |