Task guide
Share transactions and certificates
Keep the register of members as a record of transactions: allot, transfer and transmit shares, register each on its day, reverse a mistake and issue and cancel certificates.
Nobody types a holding. The register of members is worked out from the share transactions, so it can be read as it stood on any day.
Classes of share
On Members and shares, Add a class for each class the constitution creates (Ordinary, Preference) with its rights in words, whether it votes and a par value only where the constitution gives one: a company under the Companies Act, 2019 (Act 992) has no par value unless it says so.
Draft a transaction
New transaction drafts an allotment, transfer, transmission, forfeiture, redemption, consolidation or subdivision: the class, the number of shares, between whom, the price and consideration (money and anything else), the board resolution, the instrument and the stamp duty. A draft changes freely.
Register it
Register it moves the register on the transaction's effective date. It offers to issue the new certificates from the firm's certificate template and cancels the ones they replace; each certificate is numbered by the company's own sequence. Registering an allotment raises its filing.
Undo a mistake
A registered transaction is never deleted. Reverse it records a reversing entry from a day, with the reason, and both stay on the register. Members, joint holders and the beneficial owner a nominee holds for are kept on the same tab.
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