The Register of Members is a record of all shareholders or members of a company. This may also be called the Register of Shareholders for companies that issue shares. In the register, the following information about the members of the company need to be maintained:
- Name of members
- Address of members
- Date of becoming a member
- Date the individual ceased to be a member
- Share allotment number (share certificate number), date of each allotment and number of shares allotted, considerations (in cash or kinds) paid for each allotment
The register should be kept in the registered office of the company. If the register is kept at a different location, the company will have to inform the registrar within 14 days by filing a notice.
The register should be open to inspection by members without any charge. This means that any member or shareholder is free to approach the company to inspect the register of members. He or she can also request a copy of this register. The company may or may not charge based on whatever fee it had set previously.
All companies will need to maintain a register of members. For private companies, the registrar will maintain an electronic register of members. In the event that shares are transferred in a private company, the company has to send a notice to the registrar. The transfer will only come into effect when the registrar updates the electronic register of members.
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
Yours Sincerely,
The editorial team at Acra Filing Agent
For more useful articles and videos, visit the ACRA Filing Agent Useful Articles Page.
If you would like to submit a question or would like us to do an article on certain topics, please email us at [email protected]
