Execution of transfer deeds is necessary for effecting change in order of names of joint shareholders - Companies Law - Letter : No. F. 1/24/SE/80,

Letter : No. F. 1/24/SE/80, issued by Stock Exchange Division, Department of Economic Affairs, dated 5 ‑ 9 ‑ 1980. Subject:- Share transfer - Registration of ‑ Whether execution of transfer deeds is necessary for effecting change in order of names of joint shareholders References have been received in this Ministry about some of the companies insisting on execution of transfer deeds in cases in which the shareholders apply for transposition of their names in respect of their joint shareholdings. The necessity for execution of transfer deeds in such cases has been examined and it is now clarified that there is no need for insisting on execution of transfer deeds for transposition of names, that is, change in the order of names of joint shareholders provided such request is made in writing, by all shareholders jointly to the company. However, where change in the order of names is required in respect of a part of the holding, execution of a transfer deed will be required.