13ANotification of transfer of shares

13A Notification of transfer of shares

(1) A Trust or other person or body responsible for maintaining the register of members for the Trust, within 28 days after any transfer of shares, must—

(a) give written notice of the share transfer to all members appearing in the register; or

(b) publish written notice of the share transfer in a place or publication that is accessible to all members appearing in the register.

Example

A community noticeboard, newsletter or online portal.

(2) The notice must be approved by the committee of management of the Trust and include—

(a) the name and signature of the person transferring the shares; and

(b) the name, signature and address of the person to whom the shares are transferred; and

(c) the number of shares being transferred; and

(d) the date of the share transfer; and

(e) any other prescribed details.

(3) A failure to give notice under subsection (1) to all members appearing in the register of members does not affect any transfer of shares if a reasonable attempt to give that notice has been made.

S. 13B inserted by No. 29/2024 s. 4.