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Form For Share Transfer In A Private Limited Company

Form For Share Transfer In A Private Limited Company Template for Nigeria

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Form For Share Transfer In A Private Limited Company

"I need a Form For Share Transfer In A Private Limited Company for transferring 5,000 ordinary shares from an individual shareholder to their child, with completion planned for March 2025, including necessary witness provisions and spousal consent requirements under Nigerian law."

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Document background
The Form For Share Transfer In A Private Limited Company is a crucial document used in Nigerian corporate transactions when ownership of shares needs to be legally transferred between parties. This document is essential for compliance with the Companies and Allied Matters Act (CAMA) 2020 and must be properly executed for the transfer to be legally recognized by the Corporate Affairs Commission (CAC). The form captures vital information including share details, consideration amount, and party information, while ensuring all necessary approvals and requirements under Nigerian law are met. It's particularly important in private limited companies where share transfers are more restricted compared to public companies and require careful documentation and specific approvals.
Suggested Sections

1. Parties: Details of the transferor (seller) and transferee (buyer), including full names, addresses, and contact information

2. Background: Brief context of the company whose shares are being transferred, including company registration number and registered address

3. Definitions: Key terms used in the transfer form including 'Shares', 'Transfer Date', 'Consideration'

4. Share Details: Specific information about the shares being transferred including number, class, and distinctive numbers

5. Consideration: The amount being paid for the shares and payment terms

6. Transfer Declaration: Formal declaration by the transferor to transfer the specified shares to the transferee

7. Warranties: Basic warranties from the transferor regarding ownership and right to transfer the shares

8. Execution Block: Signature sections for transferor and transferee, with witness provisions

Optional Sections

1. Board Approval: Section confirming board approval where required by articles of association

2. Pre-emption Rights Waiver: Where other shareholders have waived their pre-emption rights

3. Spousal Consent: Required if shares are matrimonial property under Nigerian law

4. Tax Clearance: Section confirming tax clearance if required for high-value transfers

5. Power of Attorney: If the transfer is being executed by an attorney on behalf of any party

Suggested Schedules

1. Share Certificate Details: Copy or details of the existing share certificate(s)

2. Board Resolution: Copy of board resolution approving the transfer (if required)

3. Waiver Letters: Copies of waiver letters from other shareholders (if applicable)

4. Corporate Documents: Relevant corporate documents including Certificate of Incorporation and Memorandum and Articles of Association

5. Payment Evidence: Proof of payment for the shares being transferred

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























Clauses

















Relevant Industries

Financial Services

Manufacturing

Technology

Real Estate

Healthcare

Retail

Agriculture

Energy

Transportation

Professional Services

Construction

Mining

Telecommunications

Education

Hospitality

Relevant Teams

Legal

Corporate Secretariat

Finance

Compliance

Corporate Governance

Investment

Administrative

Board Operations

Shareholder Services

Risk Management

Relevant Roles

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Director

Managing Director

Chief Financial Officer

Investment Manager

Corporate Governance Officer

Finance Manager

Legal Administrator

Board Secretary

Chief Legal Officer

Investment Analyst

Shareholder Relations Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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