We have a company and want to sell/transfer shares in it. What are the procedures for doing this and can NTAA Corporate help with any documentation?
The transfer of shares in a company must normally be done in accordance with the constitution/memorandum and articles of association of the relevant company. Often this will require a transfer of shares form to be executed, and various changes made to the company register. Sometimes the approval of certain entities may need to be sought (eg, the directors, or other shareholders). Whether or not the shares are transferred for any consideration, there may also be CGT/stamp duty consequences. In addition, ASIC needs to be notified of the change.
We can assist with the notification to ASIC, and also prepare a directors' resolution, noting the transfer (we provide this service for a fee, and a 'Company Changes' instruction sheet will need to be completed and sent to us). However, we do not prepare any of the other documentation, so if the parties do not prepare them themselves, they may need to seek legal advice.