Registration requirement for share-transfer scheme circulars, with registrar review, appeal rights and penalties for issuing unregistered circulars. Circulars accompanying offers to transfer shares must contain prescribed information and a transferee statement on steps to ensure cash availability, be presented to and registered by the Registrar before issue, and are subject to Registrar refusal with recorded reasons and a thirty-day communication period; an appeal lies to the Tribunal. Directors issuing unregistered circulars face specified monetary penalties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration requirement for share-transfer scheme circulars, with registrar review, appeal rights and penalties for issuing unregistered circulars.
Circulars accompanying offers to transfer shares must contain prescribed information and a transferee statement on steps to ensure cash availability, be presented to and registered by the Registrar before issue, and are subject to Registrar refusal with recorded reasons and a thirty-day communication period; an appeal lies to the Tribunal. Directors issuing unregistered circulars face specified monetary penalties.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
