Share transfer form

Why use a share transfer form

A share transfer form records a transfer, sale or purchase of shares in a private Australian company.

When you transfer shares from an existing shareholder to another individual or company, you're required to notify the registrar of companies Australian Securities & Investments Commission (ASIC).

ASIC updates the registry of companies for the changes to the company's shareholder status.

Specifically, you need to provide:

• the names and addresses of the buyers and the sellers
• the business name
• the number and the price of the shares to be sold or transferred
• the date of the formal transfer

This share transfer form is suitable for anyone wishing to record the details of a share transfer with the company secretary of other registrar of the shares of a company.

When to use a share transfer form

You are required to complete and file a share transfer form whenever you add shares to the holding of an existing shareholder or remove them. That includes partial changes to shareholder status (such as a divestment of some of the shares to a family member) as well as complete changes (such as on full exit).

Do I need a lawyer to complete or approve the share transfer form?

You don't need a lawyer to complete and file this form. It is a simple, straightforward form that takes a few minutes to complete.

Our included guidance notes explain how to complete it correctly.

However, share transfers have to take place in line with the rules set out by the company's constitution. If any of the following apply, you may wish to talk to a lawyer about the sale or transfer (rather than completing this legal document):

• your business has a complex corporate structure with many entities
• it has unusual provisions in its constitution in respect of transfer of shares
• there is a shareholders agreement that restricts transfers or that gives other shareholders rights on (potential) transfer

How to record a share transfer online

You can also record the transfer of shares online directly with ASIC.

However, paper forms remain useful where a company's constitution requires the board of directors or the shareholders to approve a transfer of shares and information about that transfer is required to be given to each of them.

You need to sign up for online access using your company's corporate key.

From there:

• Sign in to your online account and select 'Start new form'
• Select 'Changes to my company details'
• Select the type of change you need to make

About the Net Lawman versions

When you buy this document, we deliver two templates, with detailed but simple explanatory notes.

Version 1: Transfer form for non-market transactions

This version is in the time honoured form, recognised and accepted by ASIC.

Version 2: Net Lawman format

This form also contains all the information necessary for a valid transfer. It is in simple form in plain English.