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of <h1>Clause 72: Security holders can nominate an heir for their shares, overriding other wills. Special provisions for minors included.</h1> Clause 72 of the Companies Bill, 2011, grants holders of company securities the right to nominate a person to inherit their securities upon their death. Joint holders can collectively nominate a person to inherit all rights in the event of their deaths. This nomination supersedes any other legal or testamentary disposition unless altered or revoked as prescribed. If the nominee is a minor, the securities holder can appoint another person to receive the securities if the nominee dies while still a minor.
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