How do I transfer shares of a deceased person? Full story in our blog https://lnkd.in/g9PD8XvE 퐕퐢퐬퐢퐭 퐮퐬 Wisma 퐊퐓퐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru Wisma 퐓퐇퐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru 퐊퐓퐏 (퐀퐮퐝퐢퐭,퐓퐚퐱, 퐀퐝퐯퐢퐬퐨퐫퐲) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3jZuZuI Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn 퐓퐇퐊 (퐒퐞퐜퐫퐞퐭퐚퐫퐢퐚퐥, 퐀퐜퐜퐨퐮퐧퐭/퐏퐚퐲퐫퐨퐥퐥, 퐀퐝퐯퐢퐬퐨퐫퐲) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs

1. AskTHKSec 24/12/2021
How do I transfer shares of a
deceased person ?

2. AskTHKSec 24/12/2021
Introduction
Section 109 of Companies Act, 2016
applies if the right of shares is transmitted
to a person by operation of law.

3. AskTHKSec 24/12/2021
When the right of shares can be
transmitted?
….The existing member is deceased or
become a bankrupt

4. AskTHKSec 24/12/2021
How to transmit?
1. Give notice to the company in writing
requesting his/ her name to be registered
as a shareholder together with copy of the
Death Certificate of the deceased

5. AskTHKSec 24/12/2021
How to transmit?
2. Supported by any document
(Proof of Probate)
a) the will
or
b) letters of administration

6. AskTHKSec 24/12/2021
How to transmit?
3. Register the (beneficiary) person as a
shareholder with SSM within 60 days

7. AskTHKSec 24/12/2021
Question:
Can the company directors refused to
approve the transmission of shares to
beneficiary?

8. AskTHKSec 24/12/2021
Question:
Refer to the Malaysia case law:
Ng Chong Wee v Ng Chong Geng & Sons
Sdn Bhd

9. AskTHKSec 24/12/2021
Verdict :
The Court of Appeal referred to the English
case of Moodie v W & J Shepherd
(Bookbinders) Ltd where the House of
Lords explained the distinction between
transfer and transmission

10. AskTHKSec 24/12/2021
Conclusion:
Such transmission shall not affect any
power of a company to register a
(beneficiary) person as a shareholder to
whom the right to shares has been
transmitted by operation of law.