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Procedure for the Transmission of Share

The handing over of shares is done automatically in other cases of a person. The method of handing over fractions is as follows

 

(i) Representation After the death of a member, the right to his shares is his legitimate representative. Every legitimate representative has to prove by means of a certificate that the deceased has a legitimate heir.

 

(ii) giving notice in writing—if the lawful representative wishes to be registered as a holder of the shares. then he should send a written notice to the company detailing his desire.

 

(iii) Transfer of shares – If the legal representative does not want to take the shares, then send the information to the company.

 

No proper stamp is required in the handing and at the same time, even though he may not remain a member of the company, but still being the legal heir, he gets the right of share on the death of the owner.

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