PandaTip: When the transferred shares are sold, the “transferor” means the seller and the “seller” the buyer. (2) A company is not permitted to register a transfer of shares or bonds of the company unless a deed of sale or an authentic copy of the company has been served: the transfer of shares is made when a shareholder transfers its shares to another shareholder, including the purchase and sale of shares. The law that governs the transfer of shares is the Corporations Act. As far as private companies are concerned, the nature of the activity is limited. Many private companies in Malta are family-owned businesses and the legislator wanted the members of these companies to control the arrival of new members. Please note that the Registrar of Companies may not accept a document or notification of share transfer for registration unless it has been proven that this transfer has been notified to the Commissioner of Inland Revenue. As a general rule, the Commissioner indicates a receipt stamp on the document in question, which must be presented to the Clerk as proof of notification. Form T is accompanied by identity documents and bank references. 5.8 Each party ensures that it does not take any action that could affect, obstruct or affect the obligations of the other party set out in this share transfer agreement. 3.
The law does NOT provide that there should be no valid transfer of shares without the required forms. A private policy is sufficient for the actual transmission, while the forms are required for the registration of the transmission. 8.1 This transfer of shares is under the exclusive jurisdiction of the laws of [STATE AND COUNTRY]. 7. THE COMMUNICATIONS OF NOTICES TRANSMITTED IN THE PRESENT CONVENTION OF TRANSFERT OF ACTIONS MUST BE SIGNIFIED BY ÉCRIT AND TRANSMITTED ONLY IF they are personally transmitted by one party to another party or delivered to the delivery address of the party concerned. Communications can only be sent and distributed in English.