Share Transfer - Registration of ‑ Fixing a “record date” without closing register of members - Companies Law - No. 8/4(108)/67‑CL‑V,

Circular : No. 8/4(108)/67 ‑ CL ‑ V, dated 4 ‑ 8 ‑ 1967. Subject:- Share Transfer - Registration of ‑ Fixing a record date without closing register of members The action of the company in fixing a record date without seeming to close the register of members has no legal validity. If by naming a record date the company intends that any proposals for transfer of shares received by the company between the record date and the date of the (annual general) meeting at which dividends are declared would not be considered or would be held in abeyance, then, this would amount to closing the register of members on and from the record date . The effect of the provisions of section 108(1A) in such a case will have to be considered in the above light.