Part 6Shares and debentures
Issue of shares
51Time of issue of shares
A share is issued when the name of the holder is entered on the share register.
Companies Act 1993
Shares and debentures - Issue of shares
51: Time of issue of shares
"Shares become official when the owner's name is added to the share register"
When a company gives out shares, there's a specific moment when those shares officially belong to someone. This moment is when the company writes the name of the person who owns the shares in a special list called the share register. As soon as the name is written down, the shares are considered to be given out or 'issued'. This is how the law decides exactly when someone becomes a shareholder of a company.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320168.