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<h1>Understanding Section 56 of Companies Act 2013: Key Rules on Transfer and Transmission of Securities</h1> Section 56 of the Companies Act, 2013, outlines the procedures for the transfer and transmission of securities. A company can only register a transfer if a duly executed and stamped instrument is submitted within 60 days. Exceptions are made for lost instruments with indemnity. Transmission of rights by law is recognized without prejudice. For partly paid shares, notice must be given to the transferee. Companies must deliver security certificates within specified timeframes, varying by context. Transfers by legal representatives of deceased persons are valid. Non-compliance incurs penalties, and fraudulent transfers by depositories are punishable under section 447.