Write notes on Share warrant.
Share Warrant : (a) Meaning—A share warrant is a bearer document of title to shares, issued by a public company, under its common seal, duly stamped and signed by directors and secretary of company. (b) Issuing Authority—Only the public limited companies can issue share warrants. (c) Approval—The approval of the Central Government is required to issue share warrants. (d) Nature of Shares—A share warrant can be issued only in respect of fully paid up shares of a public limited company. (e) Transfer—As share warrant is a bearer document on which the name of the owner is not stated, so it can be transferred by mere delivery without following any legal procedure as in case of share certificate.
Video Tutorials For All Subjects
- Issue of Share Certificate and Share Warrant