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Thread: Change of shareholders - Which CIPC forms?

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    Change of shareholders - Which CIPC forms?

    We have recently registered 2 new directors with our company with CIPC.

    Which CIPC forms do I complete in order to allocate ordinary shares to them as they are to be shareholders and directors?

    Shares will be transferred from 1 current director to the 2 new ones.

    Thanks.

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    There are no CIPC forms for share transactions.

    What you need to do is a deed of transfer, or even an old CM42 as an instrument of transfer. This transfers shares from the old shareholder to the new shareholders.

    If you maintain the registers and share certificates, then you should be aware that:
    - You can only record the transaction on receipt of the original share certificate (which you then cancel) and the instrument(s) of transfer
    - You record same in the Register Of Share Transfers and update the Register of shareholders.
    - Remember to pay the STT on the transaction, which is 0.25% of the proceeds.

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    Can you assist me with the drafting of a share register? Is there a format to follow? Is there a difference between it and a share certificate?

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    Quote Originally Posted by BoonEnterprise View Post
    Can you assist me with the drafting of a share register? Is there a format to follow? Is there a difference between it and a share certificate?
    Given that this would seem to be in your line of work, I have to question your motive in asking the question
    The trouble with opportunity is it normally comes dressed up as work.

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    Quote Originally Posted by CLIVE-TRIANGLE View Post
    There are no CIPC forms for share transactions.

    What you need to do is a deed of transfer, or even an old CM42 as an instrument of transfer. This transfers shares from the old shareholder to the new shareholders.

    If you maintain the registers and share certificates, then you should be aware that:
    - You can only record the transaction on receipt of the original share certificate (which you then cancel) and the instrument(s) of transfer
    - You record same in the Register Of Share Transfers and update the Register of shareholders.
    - Remember to pay the STT on the transaction, which is 0.25% of the proceeds.
    Hi, I found this old post.

    We have a private company and need to amend the Directors and Shareholding. Directors is done online through CIPC so no issue. Is the CM42 still required for the Shareholding change? And then who do I need to lodge the form with?

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    The quote is 100% correct. There is nobody that you need to advise or lodge documents with.

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