January 13, 2017

How to Transfer Shares for Companies Registered in Pakistan

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Company registration in Pakistan and provisions regarding transfer of shares

The mode for transfer of shares in a company registered in Pakistan is provided in the companies’ ordinance, 1984. According to the requirements of companies’ ordinance, 1984 the following factors shall be taken into consideration:

The mode for transfer of shares in company registered in Pakistan must be provided in the articles of association of the company.

As far as the application to the company for transfer of shares is concerned it can be made either by the transferor or the transferee.

No transfer of shares shall be allowed by the company until proper instrument for transfer of shares is submitted with the company.

If the original transfer deed in lost then company can still register the transfer of shares in favour of transferee if it is proved to the satisfaction of the company that original transfer deed is lost and application is made on the stamp paper with such declarations as the company may require.

Any person holding any share in the company has the absolute right as per the provisions of the companies’ ordinance, 1984 to transfer such shares unless such right has some restrictions in the articles of association of the company.

If there is no condition mentioned in the articles of association of the company that prohibits the shareholder from registering any transfer of share than company has no authority to refuse such transfer of shares.

The company shall as per the provisions of the companies ordinance, 1984 shall prepare and have ready for delivery share certificates within 45 days of application for registration of transfer of shares.

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