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How do I Transfer shares from one person to another

Article ID
ias-2280
Article Name
How do I Transfer shares from one person to another
Created Date
5th October 2005
Product
IRIS Company Secretarial
Problem
How do I transfer shares from one person to another?
Resolution
To post a transfer go to Edit | Share Register, select Transfers and click New. This will open up the Stock Transfer window. Complete the share type to be transferred by selecting it from the drop down menu which lists all the share types set up for this client. Complete the ‘Payable per share’ field. The date the transfer took place will need to be entered, as well as the Number of shares transferred. IRIS will automatically calculater the ‘Total payable’ field. The ‘From’ field will be greyed out. Click ‘Choose’ to select the member from whom the shares are being transferred from. The’ Existing Shareholders in Business’ window will appear, highlight and Select the correct member. The shareholder who is receiving the transfer of shares needs to be selected in the ‘To’ field. Click ‘Existing’, this will produce a list of current members who can be chosen as the receiving shareholder. If the member has been setup as joint shareholder then the Held Jointly tick box will be ticked. If the receiving shareholder is not a client on the system, then Other Shareholder can be chosen. Select the button box to Other Shareholder then click on the Magnifying Glass. The window People (and businesses) who are not clients will appear with a list of non clients in the company. Select the shareholder or click New to enter a new non-client. The Total Paid, Date Paid and Paid ref. (optional) fields need to be filled in as appropriate. In the Total Paid field, IRIS can enter the total payable by pressing F2. Log to client’s history tick box will be ticked, creating a Stock Transfer Form for this client. If this is not required, untick this box. Once the transfer is complete, click the Insert button. This will bring up the Confirm share numbers to be disposed of screen. This screen will allow the share numbers to be viewed or amended which are being transferred. To accept the numbers that IRIS has allocated, click System Choice. To change the share numbers, click into the field to be changed and type in the correct number(s). Once all changes have been made, click on Accept to apply the changes, or Revert to put the numbers back the original numbers chosen by the system. This will then put the transfer through. To run the Stock Transfer Form go to Reports | Company Forms, highlight the Stock Transfer Form and click Print Form.

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