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Companies Act 1993

Shares and debentures - Share register

89: Share register as evidence of legal title

You could also call this:

“The share register proves legal ownership of shares, with some exceptions”

When your name is written in the share register as the owner of a share, it’s usually taken as proof that you legally own that share. However, there are some exceptions to this rule, which you can find in section 91.

A company can treat you as the only person who has certain rights if you’re listed as the registered owner of a share. These rights include voting on company matters, getting notices from the company, receiving money (called distributions) related to the share, and using any other rights that come with owning the share.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320450.

Topics:
Business > Industry rules
Business > Fair trading
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“Where companies must keep their list of shareholders”

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“Directors must ensure the company's share register is accurate and up to date”

Part 6 Shares and debentures
Share register

89Share register as evidence of legal title

  1. Subject to section 91, the entry of the name of a person in the share register as holder of a share is prima facie evidence that legal title to the share vests in that person.

  2. A company may treat the registered holder of a share as the only person entitled to—

  3. exercise the right to vote attaching to the share; and
    1. receive notices; and
      1. receive a distribution in respect of the share; and
        1. exercise the other rights and powers attaching to the share.