SHARE ALLOTMENTS AND SHARE TRANSFERS FOR ALL LIMITED COMPANIES IN IRELAND

Allotment of Shares
Shares must be allotted at a meeting of directors in accordance with the terms laid down in the Articles. A company limited by shares, or limited by guarantee and having a share capital, must file a Return of Allotments with the Registrar of Companies within one month stating the number of shares allotted, the names and addresses of the allottees and the consideration, whether it be cash or other consideration.

In the case of shares allotted as fully or partly paid up otherwise than for cash, the original copy of the contract constituting the title of the allottees to the allotment together with any contract of sale or for services or other consideration, must be filed with the Registrar of Companies, or in lieu thereof a statutory form No. 52 should be filed.

Where shares are issued to members of a company on a capitalisation issue or provisionally allotted on a rights issue it is not necessary to show details of the individual allottees on the Return of Allotments.

Registration of Transfers of Shares or Debentures
The registration of transfers of shares and debentures must be carried out in accordance with the company’s Articles of Association but legislation also requires that a transfer of shares or debentures may not be registered unless a proper instrument of transfer has been delivered to the company.

Share Certificates
Every company must within two months of allotment or transfer of shares or debentures complete and have ready for delivery the certificates of such shares or debentures, unless the conditions of issue of the shares or debentures otherwise provide.

A certificate under the common seal of the company is prima facie evidence of the title of the member to the shares specified therein.

Order a Company Formation pack NOW!