The Notice of Transfer of Shares is a crucial document in South African corporate governance that facilitates the formal transfer of share ownership between parties. This document is required whenever shares are transferred between shareholders, whether in private or public companies, and must comply with the Companies Act 71 of 2008 and other relevant legislation. The notice includes essential information such as the identities of the transferor and transferee, details of the shares being transferred, consideration paid, and relevant declarations. It serves as the basis for updating the company's share register and may require supporting documentation such as share certificates, transfer forms, and proof of payment. The document may also need to address specific requirements related to B-BBEE status, exchange control regulations for international transfers, and securities transfer tax obligations.
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1. Notice Header: Title of document, date, and reference number
2. Company Details: Full registered name of the company, registration number, and registered address
3. Transferor Details: Full name, ID/registration number, and address of the party transferring the shares
4. Transferee Details: Full name, ID/registration number, and address of the party receiving the shares
5. Share Transfer Details: Number and class of shares being transferred, share certificate numbers, and transfer date
6. Consideration: The amount or value for which the shares are being transferred
7. Declaration: Statement confirming the transfer and requesting the company to register the transfer
8. Signatures: Space for signatures of transferor and transferee, including date and witness details
1. B-BBEE Impact Statement: Required when the transfer affects the company's B-BBEE status
2. Exchange Control Compliance: Required for transfers involving non-resident parties
3. Special Conditions: Any specific conditions attached to the transfer
4. Tax Declarations: Statements regarding Securities Transfer Tax payment where applicable
5. Director's Approval: Required when the company's MOI requires director approval for share transfers
1. Share Certificate: Copy of the original share certificate(s) being transferred
2. Securities Transfer Form: Completed and signed securities transfer form (CM 42)
3. Proof of Payment: Evidence of payment for the shares and/or Securities Transfer Tax
4. Supporting Documents: Copies of IDs/passports, proof of address, and company registration documents where applicable
5. Resolution: Company resolution approving the transfer if required by the MOI
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