Power of Attorney: share transfer

Power of Attorney: share transfer

Power of attorney for a transferring shareholder to appoint the transferee as its attorney pending registration of the share transfer

Background

When is a power of attorney on a share transfer required?

If a share transfer is for consideration exceeding £1,000, stamp duty will be payable to HMRC and the transfer will need to be stamped by HMRC.  This stamping process usually takes a few weeks.  Until it has been completed, the transferor of shares will stay on the company’s register of members as the registered shareholder of the shares transferred.  As the registered shareholder, the transferor remains the person who is legally entitled to exercise rights attached to the shares, including the right to receive notices of shareholder meetings, to vote the shares and to receive dividends.  The transferee of the shares may require the transferor to appoint the transferee as the transferor’s attorney in relation to the shares, so that the transferee can exercise the rights attached to the shares pending the registration of the transferee as the registered holder of the shares transferred.

About this indemnity for lost share certificate

This power of attorney is applicable where there has been a transfer of shares and the transferor is willing to appoint the transferee as the transferor’s attorney pending registration of the share transfer.

Document features

Alternative forms of power of attorney, depending on whether the transferor is an individual or a company

Explanatory guidance

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