Limited companies must keep a record of all issued shares and the people who own them. The details of the first shareholders and the shares they have taken will be recorded in the memorandum of association.
This information is registered at Companies Registrar and placed on public record. Companies must also record this information in their statutory records at their registered office.
Any member who join a company after incorporation should be given a share certificate. The company should keep a copy of these certificates.
When existing shares are transferred from one person to another, a share transfer form should be completed. A copy of this form should be maintained with the company’s statutory records. Companies House should be notified of the transfer in a statement of capital when the next confirmation statement is filed.
If new shares are issued, the director must file a Return of Allotment with Companies House no later than 1 month after the date of issue, along with an updated statement of capital. There is no need to provide shareholders’ details until the company is files its next confirmation statement.
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