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Companies Act 1993

Shares and debentures - Share register

93: Personal representative may be registered

You could also call this:

“Registering a deceased shareholder's personal representative as the new owner of shares”

If someone who owns shares in a company dies, their personal representative can be registered as the owner of those shares. This means the personal representative’s name can be put in the company’s share register instead of the deceased person’s name.

If the deceased person was entitled to own shares but wasn’t registered as the owner, their personal representative can also be registered. However, this needs the agreement of both the company and the current registered owner of the shares.

It’s important to know that when a trustee, executor, or administrator is registered in this way, it doesn’t mean the company is officially notified about any trust arrangements.

You can find more information about who can be registered as a shareholder in section 92 of this Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320454.

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“The share register must not include any information about trusts”

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Part 6 Shares and debentures
Share register

93Personal representative may be registered

  1. Notwithstanding section 92, a personal representative of a deceased person whose name is registered in a share register of a company as the holder of a share in that company is entitled to be registered as the holder of that share as personal representative.

  2. Notwithstanding section 92, a personal representative of a deceased person beneficially entitled to a share in a company, being a share registered in a share register of that company, is with the consent of the company and the registered holder of that share, entitled to be registered as the holder of that share as personal representative.

  3. The registration of a trustee, executor, or administrator pursuant to this section does not constitute notice of a trust.