Distinguish between transfer and transmission of shares as per the provisions of the Companies Act, 2013.

Transfer of shares Transmission of shares 1. Transfer of shares is a voluntary or deliberate act of the parties by way of a contract Transmission takes place because of operation of law for instance on death, insolvency or lunacy of a member 2. The execution of a valid transfer deed is necessary No instrument of transfer is required in case of transmission 3. Stamp duty is payable where shares are transferred by a member (except when the shares are in demat form) No stamp duty is payable in case of transmission of shares 4. Transfer of shares is generally made for some consideration Transmission of shares takes place without any consideration