When purchased, no transmission of share rights or dividends occurs.
2.
Transmission of shares occurs when the shares of a deceased share holder are inherited or bequeathed to a heir or personal representative of the deceased shareholder.
3.
"Method " : while transfer of shares is brought about by delivery of a proper instrument of transfer ( viz, transfer deed ) duly stamped and executed, transmission of shares is done by forwarding the necessary documents ( such as a notarised copy of death certificate ) to the company.
4.
When a previous owner of shares dies and his shares are inherited by his personal representatives or heirs, this is called transmission of shares . Shares may be inherited only by production of probate of a will of the deceased owner or letters of administration of his estate granted by the High Court . ( section 148 of COMPANIES AND ALLIED MATTERS ACT ( CAMA ) under NIGERIAN LAW ).
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