Log onto the CIPC E-services website www.cipc.co.za / Online Transacting / E-services and logon using your customer code and password. Select Authorised Share Changes, type in the company registration number and view the displayed authorised share information.
Register by post
You can send your changes by post. Download and fill in the share change forms depending on the changes you’re making. Send your completed forms, a copy of your resolution if needed and your statement of capital to the address on the forms.
Generally, a majority of shareholders can remove a director by passing an ordinary resolution after giving special notice. This is straightforward, but care should be taken to check the articles of association of the company and any shareholders’ agreement, which may include a contractual right to be on the board.
It is standard practice that for a share transfer in a private limited liability company to be effective, the transferor and transferee must execute a share transfer form, pay stamp duty on it and present it to the company for registration, together with the related share certificate, if any.
5 Steps to Remove a Shareholder
- Refer to the shareholders’ agreement. A shareholders’ agreement outlines the rights and obligations of each shareholder in an organization. …
- Consult professionals. …
- Claim majority. …
- Negotiate. …
- Create a non-compete agreement.
In a company limited by guarantee, there are no shareholders, but the company must have one or more members. … Just as in a company limited by shares there may be different classes of shares, it is possible to have different classes of members in a guarantee company.
Change of class of shares
The new share class can be an existing share class or a completely new share class. Change of share class can be done for variety of reasons which we will discuss later in the blog.
Step 1: Obtain share transfer deed in the prescribed format. Step 2: Execute the share transfer deed duly signed by the Transferor and Transferee. Step 3: Stamp the share transfer deed as per the Indian Stamp Act and Stamp Duty Notification in force in the State.
Procedure for change of directors in Kenya
- Obtain consent from the person appointed to be director.
- Obtain Residential address of the new director and file CR8.
- Obtain PIN, National ID and passport photograph for the new director.
- File CR 6.
How can a director be removed from a company in South Africa?
A director may be removed by: An ordinary resolution adopted at a shareholders’ meeting by the persons entitled to exercise voting rights in the election of that director.
The shareholders can vote to remove directors from the board before their terms expire, with or without cause, unless the corporation has a staggered board. The shareholders can then vote to replace the directors they removed.