We are well aware that the fully paid up shares can be transferred/ transmitted to a minor, provided the name of the guardian and not that of the minor is entered in the Register of members.
My query is Can a minor ( through guardian ) transfer those shares.
Regards, Shinod K P
Guest
Guest
(Expert)
30 April 2013
A minor can not transfer his shares. If, transferee is a minor, transfer of shares is to be effected in accordance with the provisions of the Articles of Association of the company, where shares to be transferred are fully paid-up, there is no problem for companies to register the same. In favor of minors through guardian.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 April 2013
Dear Madam,
Thank you for your fast response.. I ve a doubt.
Should the minor hold shares ( acquired by transmission ) until he/ she attains majority.
I feel it can be transferred through the guardian.
Shinod K P
Guest
Guest
(Expert)
30 April 2013
Any contract/ agreement/ act adversely affecting minor or infringing his rights / benefits is null and void since he is not competent to enter into contract and hence it is not permitted.
CAclubindia
