Section 97: Share certificates

97. Share certificates (1) Subject to subsection (2), a public company shall, within 28 days after the issue, or registration of a transfer, of shares in the company, as the case may be, send a share certificate to every holder of those shares stating— (a) the name of the company; (b) the class of shares held by that person; and (c) the number of shares held by that person. (2) Subsection (1) shall not apply in relation to a company the shares of which have been deposited under a system conducted by a central depository and settlement company approved under the Securities (Central Depository, Clearing and Settlement) Act. (3) A shareholder in a company, not being a company to which subsection (1) or (2) applies, may apply to the company for a certificate relating to some or all of the shareholder’s shares in the company. (4) On receipt of an application for a share certificate under subsection (3), the company shall, within 28 days after receiving the application— (a) if the application relates to some but not all of the shares, separate the shares shown in the register as owned by the applicant into separate parcels, one parcel being the shares to which the share certificate relates, and the other parcel being any remaining shares; and (b) send to the shareholder a certificate stating— (i) the name of the company; (ii) the class of shares held by the shareholder; and (iii) the number of shares held by the shareholder to which the certificate relates. (5) Notwithstanding section 87, where a share certificate has been issued, a transfer of the shares to which it relates shall not be registered by the company unless the instrument of transfer required by that section is accompanied— (a) by the share certificate relating to the share; or (b) by evidence as to its loss or destruction and, if required, an indemnity in a form required by the Board. (6) Subject to subsection (1), where shares to which a share certificate relates are to be transferred, and the share certificate is sent to the company for registration of the transfer, the share certificate shall be cancelled and no further share certificate shall be issued except at the request of the transferee. (7) This section shall not apply to an investment company either on issue of a share certificate or on registration of a transfer of shares. [S. 97 amended by s. 4 (h) of Act 20 of 2002 w.e.f. 1 December 2001.] [Issue 1] C35 – 68 Revised Laws of Mauritius