Understanding Register of Transfers


Following our earlier blog posts on "Understanding Register of Members" and “Understanding Register of Allotments”, we now focus on Register of Transfers. Any updates to Register of Transfers require updating of Register of Members at the same time.

When to update

You will need to update your Company’s Register of Transfers, whenever a transfer of shares takes places within your Company.

What to update

Typically, you should update the following fields in the Register of Transfers after completion of a share transfer exercise: -

 Field What you need to input
Date Date of transfer of shares; or
Date of agreement to transfer shares; or
Date of share transfer instrument.
Currency Type Denomination of shares transferred e.g. SGD, USD etc.
Class of Shares Type of shares transferred e.g. Ordinary, Preference etc.
Number of Shares Transferred/Disposed Number of shares transferred.
Total Consideration Amount paid/received by the Transferee/Transferor respectively.
Transferor
Name, address and description Name, address, identification number (for individual); or
Name, address, UEN number (for corporation).
Certificate number Share certificate number of share certificate issued to Transferor.
Transferee
Name, address and description Name, address, identification number (for individual); or
Name, address, UEN number (for corporation).
Certificate number  New share certificate number to be issued to Transferee. Share certificate number should be issued in sequential order following the last issued number e.g. 1, 2, 3 etc for ordinary shares.

For different classes of shares, you can opt to prefix with an alphabet letter e.g. P1, P2, P3 etc for preference shares.

For different sub-classes of shares, you can opt to include a prefix e.g. OA-1 for Class A Ordinary Shares, OB-1 for Class B Ordinary Shares etc.

Can eROM be substituted for Register of Transfers?

No. Register of Transfers and Register of Allotments are two different statutory registers. Although most of the information in the Register of Transfers can be found in the section on “Shares Transferred Out” of the electronic Register of Members (“eROM”), your Company should still maintain its own Register of Allotments manually.

In addition, we wish to reiterate that there is no share certificate information in eROM and hence you might find it difficult to keep track of share certificates issued to shareholders and the numbering of share certificates.

Having shared with you three share-related statutory registers – Register of Members, Register of Allotments and Register of Transfers, we hope that you have a better idea of how to update these statutory registers. If you need ready-to-use customisable templates for statutory registers, including Register of Transfers, you may wish to check out our e-shop when you click on the category – Statutory Registers.


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