Share transfer regulations

Simogen

Hi,

Can you tell me if a shareholder has to physically sign a share transfer form before any shares are legally transferred?

The reason I ask is that my ex-business partner (in a limited company with just her and myself as directors and shareholders) has transferred my shares to herself. I resigned as a director in Sept 08 and sent a letter saying I would resign as shareholder too. (I did this because the accountant, her husband, told me I was liable for debts as a shareholder.)

On getting the accounts for 07-08 from the CRO website, I have just discovered that she has transferred my shares, without my signature.

Can she do this? And what steps could I take, if any, to clarify and rectify the situation?
Many thanks for your help!

kluivert

No - you have to sign a form transferring the shares, the consideration paid for the shares.

There is a form on the CRO website I can not remember the name of it.

cosecretary

Hi

Yes a stock tranfer form is required to transfer the shares from your name to the transferee. The form should be signed by you as transferor. The stock transfer form should then have been forwarded to Revenue for stamping.

I would write to the Directors and refer to your previous letter requesting the shares to be transferred. I would note in the letter that a stock tranfer form is required to legally transfer the shares and I would ask that they forward a stock tranfer form to you for signature. When you return the signed stock tranfer form to them I would ask them to confirm to you in writing once the shares have been transferred and the statutory registers updated to reflect the transfer.