62 Transfer of shares

(1) Subject to subsections (2) and (3) and to section 66, registered shares in a
company shall be transferred by a written instrument of transfer —


(a) signed by the transferor;

(b) signed by the transferee; and

(c) containing the name and address of the transferee.


(2) If expressly permitted by a company‘s memorandum or articles but subject
to subsection (3), registered shares in the company shall be transferred by
a written instrument of transfer signed by the transferor and containing the
name and address of the transferee, provided that a written instrument of
transfer to which this subsection applies shall not be invalidated if it is
signed by both the transferee and the transferor.

(3) The instrument of transfer shall be signed by the transferee (as well as the
transferor) if —

(a) the share is not fully paid up; or

(b) registration as a holder of the share otherwise imposes a liability
to the company on the transferee.

(4) The instrument of transfer of a registered share shall be sent to the company
for registration.

(5) Subject to its memorandum or articles and section 63, the company shall,
on receipt of an instrument of transfer, enter the name of the transferee of
the share in the register of members unless the directors resolve to refuse
or delay the registration of the transfer for reasons that shall be specified
in the resolution.