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Share certificate 1956 act and share certificate 2013 act

Co Act 2013 1996 views 2 replies

Gouranga Dey

Trainee

137 Points Joined March 2011

Dear Members,

What to do with the blank old share certificates under CA Act 1956. Should we cancel the Unused blank old share certificates and print the new certificates as per SH 1.

In my case old certificates upto No. 9 has been issued? What should be the Certificate no. in the new share certificates? Should it start from No. 10 or No.1?

One shareholder having certificate under 1956 Act wish to transfer his share to another person in this case what is the applicable act?

what will be the scenario for the shares getting transferred? Will the Co need to transfer & issue certificates under new Act & destroy the old certificate Can we mention on the new certificate as "Issued in lieu of old certificate no ________"

Replies (2)

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

1. Certificates issued under old Act are valid and there is no need to issue new certificates under the new Act.

2. If you have to issue new certificate on or after 1.4.2014, the same has to be in form SH.1 under the new Act only. However, certificate no. will be in continuation of existing certificates.

3. On or after 1.4.2014 transfer of shares (whether issued under old Act or new Act) will be governed by the new Act only.