Transmission of shares.

Transmission of shares means the transfer of shares that occurs automatically by operation of law, bankruptcy (from the Bankrupt to his trustee in bankruptcy) or upon death (to the personal representative of the deceased). 

Note:the transferees do not become company members until the company enters their names upon the register of members. 

Before their names are entered upon the register of members, they cannot attend or vote at the company meetings.

See section 77 and 84 of The Companies Act, 2002 (Act. No 12/2002).

See section 21, 53, 54 of The Bankruptcy Act, Cap 25 of 2019.

See (procedures to acquire administration) Probate and Administration of Estate Act, Cap 352 R.E 2002