A document of transfer of the share or other interest of a deceased member of a company— (a) can be made by the deceased member's executor or administrator even though the executor or administrator is…
(1) If a document produced to a company is by law sufficient evidence of thegrant of— (a) probate of the will of a deceased person; (b) letters of administration, of the estate of a deceased person; o…
(1) A certificate issued by a company in relation to a transfer of shares in, or of debentures of, the company is to be taken to be a representation by the company to any person acting on the faith of…
(1) A company shall, within two months after the date on which a transfer of any of its shares, debentures or debenture stock is lodged with the company, complete and have ready for delivery— (a) the…
(1) Irrespective of whether a company limited by shares purports to be authorised by its articles to issue with respect to any fully paid shares a share warrant stating that the bearer of the share wa…
(1) If a company is failing to comply with section 496 (1), any person claiming to be affected by the failure may serve on the company a notice requiring it to rectify the failure without delay and in…
(1) Regulations may be made for the purpose of this Division to enable title to securities to be evidenced and transferred without a written document. (2) In particular, those regulations may— (a) pre…
(1) Regulations made for the purpose of this Division may— (a) enable the members of a company or of any designated class of companies to adopt, by ordinary resolution, arrangements under which title…
(1) The Cabinet Secretary may, by order— (a) designate classes of companies for the purposes of section 507; (b) provide that, in relation to securities of a specified description— (i) in a designated…
Regulations purporting to be made under sections 506 or 507, and an order purporting to be made under section 508, are invalid unless the Cabinet Secretary has previously carried out such consultation…
(1) For the purposes of this Part, an offer to the public includes an offer to any section of the public, however selected. (2) An offer is not regarded as an offer to the public if it can properly be…
(1) A private company limited by shares or a company limited by guarantee shall not— (a) offer to the public any securities of the company; or (b) allot or agree to allot any securities of the company…
(1) If a member or creditor of a company, or the Attorney-General, alleges thata company is proposing to act in contravention of section 511, the member, creditor or Attorney-General may apply to the…
(1) If a member or creditor of a company, or the Attorney-General, alleges that a company is contravening, or has contravened, section 511, the member, creditor or Attorney General may apply to the Co…
(1) An order is a remedial order for the purpose of this section if it is made in order to place a person affected by a contravention of section 511 in the position in which the person would have been…
Nothing in this Part affects the validity of an allotment or sale of securities or of an agreement to allot or sell securities.
(1) A company that is a public company shall not conduct business or exercise a borrowing power unless the Registrar has issued it with a trading certificate under this section. (2) On receiving an ap…
(1) A public company that wishes to obtain a trading certificate shall make an application in writing to the Registrar. (2) The Registrar shall refuse such an application if it does not— (a) state tha…
For the purposes of sections 516 and 517, the authorised minimum in relation to the nominal value of a public listed company's allotted share capital is six million seven hundred and fifty thousand sh…
(1) If a company does business or exercises any borrowing powers incontravention of section 516, the company, and each officer of the company who is in default, commit an offence and on conviction are…
(1) A limited company having a share capital may issue redeemable sharesthat are to be redeemed, or are liable to be redeemed, at the option of the company or the shareholder. (2) The articles of a pr…
(1) The directors of a limited company may determine the terms, conditions and manner of redemption of shares if they are authorised to do so— (a) by the company's articles; or (b) by a resolution of…
(1) Redeemable shares of a limited company can be redeemed only if theyare fully paid. (2) The terms of redemption of shares in a limited company may provide that the amount payable on redemption can,…
(1) Redeemable shares of a limited company can be redeemed only out of—(a) distributable profits of the company; or (b) the proceeds of a fresh issue of shares made for the purposes of the redemption.…
If shares in a limited company are redeemed— (a) the shares are cancelled by operation of this section; and (b) the amount of the issued share capital of the company is diminished by the nominal value…
(1) Within one month after a company has redeemed any redeemable shares, the company shall lodge with the Registrar for registration a notice specifying the shares that have been redeemed. (2) The com…
(1) This section applies to a purchase or acquisition of shares by a limited company of its own shares in accordance with this Act and— (a) the purchase or acquisition is made out of distributable pro…
(1) If a company has shares of only one class, the company shall ensure that the aggregate nominal value of shares held as treasury shares does not at any time exceed ten per cent of the nominal value…
(1) This section applies to a company that holds shares as treasury shares. (2) The company may not exercise any right in respect of the treasury shares,including any right to attend or vote at compan…
(1) A company that holds shares as treasury shares may, at any time— (a) sell the shares, or any of them, for a cash consideration; or (b) transfer the shares, or any of them, for the purposes of or i…
(1) Within one month after shares held by a company as treasury shares—(a) are sold; or (b) are transferred for the purposes of an employees' share scheme, the company shall lodge with the Registrar f…
(1) A company that holds shares may at any time cancel all or any of the shares. (2) As soon as shares held by a company as treasury shares cease to bequalifying shares, the company shall cancel them.…
(1) Within one month after shares held by a company as treasury shares are cancelled, the company shall lodge with the Registrar for registration a return that specifies in relation to shares of each…
(1) This section applies when shares held by a company as treasury shares are sold. (2) If the proceeds of the sale are equal to or less than the purchase price paid by the company for the shares, the…
(1) If a company that holds or held shares as treasury shares fails to complywith a requirement of this Part, the company, and each officer of the company who is in default, commit an offence and on c…
(1) This Part applies only to public companies. (2) This Part applies to the issued shares of a public company, or the issuedshares of a class shares of a public company, that confer rights to vote in…
(1) A public company may give notice under this section to any person whom the company knows or reasonably believes— (a) holds an interest in the company's shares; or to have held such an interest at…
(1) If— (a) a notice under section 536 is served by a company on a person who holds or held interests in shares of the company; and (b) the person fails to give the company the information required by…
(1) A person who— (a) fails to comply with a notice under section 536;or (b) in purported compliance with such a notice— (i) makes a statement that the person knows to be false in a material particula…
(1) A person is not obliged to comply with a notice given under 536 if the personis for the time being examined by the Cabinet Secretary from the operation of that section. (2) The Cabinet Secretary m…
(1) The effect of an order under section 537 that shares are subject to restrictions is as follows— (a) a transfer of the shares is void; (b) no voting rights are exercisable in respect of the shares;…
(1) This section applies if shares are subject to restrictions imposed by an order under section 537. (2) A person who— (a) exercises or purports to exercise a right— (i) to dispose of shares that to…
(1) If an order of the Court directs shares to be subject to restrictions, thecompany or any person aggrieved may make an application to the Court on the ground that the order unfairly affects the rig…
(1) An application may be made to the Court for an order directing that the shares are to cease to be subject to restrictions. (2) An application for an order under this section may be made by the com…
(1) The Court may order that the shares subject to restrictions be sold, subjectto the Court’s approval as to the sale. (2) An application for an order under subsection (1) may only be made by thecomp…
(1) If shares are sold in accordance with an order of the Court under section544, the seller shall pay the proceeds of the sale, less the costs of the sale, into court for the benefit of the persons w…
(1) The members of a company may require it to exercise its powers undersection 536. (2) A company shall comply with such a requirement once it has receivedrequests (to the same effect) from members o…
(1) A company that is required under section 546 to exercise its powers torequire a person to provide information about their interests in the company’s share, shall exercise those powers in the manne…
(1) On the conclusion of an investigation carried out by a company in accordance with a requirement made under section 546, the company shall prepare a report of the information obtained as a result o…
(1) If a company fails to comply with a requirement of section 548(1) to (6), the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a f…
