Section 111 - Power to refuse registration and appeal against refusal.

Refusal to register share transfers: appeal to Tribunal enables orders directing registration, rectification, and related interim relief.

A company refusing to register a transfer or a transmission by operation of law must notify transferor and transferee with reasons within two months; affected persons may appeal to the Tribunal (by petition with prescribed fee) within specified periods. The Tribunal may order registration or rectification of the register, award damages, make interim or consequential orders (including injunctions, costs, dividend or allotment directions) and decide title questions. The same remedies apply to debenture registers and to transmissions by sale in private companies, and failure to comply attracts fines and continuing penalties.