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A share transfer form is a legal document that enables the formal transfer of shares from an individual or company to another individual or company. It's relatively straightforward paperwork that ensures your company remains compliant with the Australian Securities & Investments Commission (ASIC). Read on to learn how to put together a share transfer form.
What is a share transfer form?
A share transfer form is a legal document that ensures that any changes to a company's shareholder status are registered with ASIC. A share is a fixed unit of capital that represents an individual or entity's stake in a company. The share transfer form is used any time a shareholder intends to sell or transfer ordinary or preferred shares to someone else. The template below can be downloaded from LawPath.Download this share transfer form template at Lawpath
When should I use a share transfer form?
You should use the share transfer form if you want to:
- Add shares to an existing shareholder
- Remove shares from an existing shareholder
- Make any changes to shareholder status based on your company's constitution
Get access to customisable share transfer form templates online
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Share transfer form vs shareholders agreement
Whereas a share transfer form documents the sale or transfer of existing shares from one party to another, a shareholders agreement clarifies the relationship between shareholders of a company. The shareholder agreement effectively lays down the rules between shareholders, including provisions for how they can sell or transfer shares.
What does a share transfer form include?
A share transfer form includes:
- Names and addresses of buyers and sellers
- A description of the security intended for sale or transfer
- The number and price of shares intended for sale or transfer
How effective is a share transfer form?
Because share transfers need to be logged by Australia's securities regulator, a share transfer form is essential documentation. It provides the legal framework for transferring or selling shares in a company.
Do I need a lawyer for a share transfer form?
Usually, a share transfer form is simple enough that a lawyer isn't needed to complete the transaction. Most online templates are one page in length and filling it out usually takes a few minutes. You may wish to consult with a lawyer to make sure that the transfer form is consistent with your company's constitution. Complex corporate entities should seek out legal counsel to ensure nothing is missed.
How do I write a share transfer form?
You can download a share transfer form from several websites. The template you select should have, at minimum, the following information:
- Company name
- Transferee name, address, and phone number
- Transferer name, address, and phone number
- Transfer details (total shares, price, and date of transfer)
- Signature lines
You can also transfer shares online with ASIC. You can sign up for an online account using your company's corporate key.
Where to get legal documents like a share transfer form
The share transfer form is relatively straightforward as far as legal documents go. There are many online templates that can help you get started. Here's where you can find them.
- Lawpath. As an online legal resource for small businesses, Lawpath gives you access to all kinds of legal documents. You'll need to sign up to access customisation options.
- Law Depot. Law Depot also provides access to free legal documents, including the share transfer form.
How do I transfer shares online?
According to ASIC, you can transfer shares online using the following steps:
- Register for online access using your corporate key
- Log in and select 'start new form'
- Select 'changes to my company details' from the list of forms
- Select the type of change you would like to make
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