What are the legal requirements to change shareholdings on the companies register? Thanks Terry. Wellington NZ. My

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Customer: What are the legal requirements to change shareholdings on the companies register? Thanks Terry
JA: What state is this in? It matters because laws vary by location.
Customer: Wellington NZ
JA: What steps have been taken so far?
Customer: My shareholdings were changed by one of the directors 2 times, to remove me as a director ( small company). I hadn't agreed to any of it and just wanted some clarification on the due procedures?
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no
Answered by Chris The Lawyer in 27 mins 2 years ago
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Chris The Lawyer
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Chris The Lawyer, Expert

Hi
I am a New Zealand lawyer based in Wellington and will help you with your question today. Please give me a minute to read your question
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Chris The Lawyer, Expert

Shares are transferred by signing a share transfer between the buyer and seller, signed by both. This is then noted in the company share register. The changes don’t show up on the file at the Companies Office until the next annual return is filed
Customer
they have to be signed by both parties?
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Chris The Lawyer, Expert

Hi
Customer
I haven't signed anything and yet my shareholding was reduced in two occasions. That doesn't seem to be correct?
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Chris The Lawyer, Expert

If you were allocated shares then I wonder if there are proper resolutions about this. You need to ask to see those
Customer
Ok
Then I'm taking it that you can't just alter the shareholding without the proper process and is this a law as such?
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Chris The Lawyer, Expert

Once the shares are allocated, that cannot be changed. Sometimes shares can be cancelled when not paid for but all of the transactions need resolutions and this is well established company law
Customer
Thank you, ***** ***** thought this was the case
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Chris The Lawyer, Expert

You should ask for the resolutions
Ask a lawyer and get your legal questions answered.
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