1000 shares of a company are presently held jointly by A, B and C their names appearing in the share certificates in this order. The joint shareholders want a transposition of the names in the order C, B and A. Can it be

In the case of joint shareholders one or more of them may require the company to alter or re-arrange the order of their names in the register of members of the company. If the company provides in it's articles that the senior most amongst the joint shareholders will be recognised for all processes like service of notice, a copy of balance sheet, P&L account, voting at the meeting etc the request of the transposition may be duly considered and approved by the board or other authorised officer of the company. Since no transfer of any interest in the shares taken place on such transposition, it does not require payment of stamp duty. The stock exchange division of the Department of Economic Affairs has clarified that there is no need of execution of transfer deed for transposition of names if the request for the change of the order of name is made in writing by all the joint holders. If transposition is required in case of part of the holding execution of transfer deed will be required. Accordingly in the present case a joint application by all the shareholders will be sufficient if it is for the entire holding. However if the request is for a part of the holding the transfer deed (including payment of stamp duty) will be required.