 |
||||
 |
||||
 |
||||
 |
||||
 |
||||
|
||||
 |
||||
 |
||||
 |
||||
 |
Law No: 10/96 (An Unofficial Translation)
Transfer of shares
36. The shares of any member in a company shall be movable properly and is transferable in the case of private companies with the approval of the Board of the Directors in accordance with the articles of association. Shares in a public company shall be transferred in accordance with this Act or as may be prescribed by the regulations made under this Act.
Transfer of shares and registration
37. If a share in a company is transferred from one person to another, the share transaction shall be registered in the company. A transfer shall take place when a proper instrument of transfer is delivered to the company.
Transmission of shares
38. If a shareholder deceases, the company may in accordance with the articles of association register the shares held by the deceased member in the name of the person or persons whom the court declares as being entitled to hold the shares.
Failure to answer a call up for share payment
39. If a shareholder fails to pay for the shares he has subsrcibed after a call for payment has been made, the company may in accordance with its articles of association forfeit the shares.
