Nomination of shares secures a nominee's entitlement on death, excluding other claims, subject to prescribed variation or cancellation. Nomination permits a holder or joint holders, in the prescribed manner, to nominate a person who will vest with all rights in the shares or debentures on the holder's or joint holders' death, the nominee taking to the exclusion of others unless the nomination is varied or cancelled; if the nominee is a minor, the holder may appoint a person to receive the interest during the minority, and all nominations, variations and cancellations must follow the prescribed procedure.