Number 34 of 1963.

STOCK TRANSFER ACT, 1963.

ARRANGEMENT OF SECTIONS

FIRST SCHEDULE

SECOND SCHEDULE

Number 34 of 1963.

STOCK TRANSFER ACT, 1963.

Interpretation·

1.—In this Act—

“the Minister” means the Minister for Finance;

“registered securities” means securities the holders of which are entered in a register;

“securities” includes shares, stock, debentures, debenture stock, loan stock and bonds;

“stock exchange transaction” means a sale and purchase of securities in which each of the parties is a member of a stock exchange acting in the ordinary course of his business as such or is acting through the agency of such a member;

“stock exchange” means the Cork Stock Exchange, the Dublin Stock Exchange and any other stock exchange which is declared by the Minister by regulations to be a recognised stock exchange for the purposes of this Act.

Simplified transfer of securities.

2.—(1) Registered securities to which this section applies may be transferred by means of an instrument under hand in the form set out in the First Schedule to this Act (in this Act referred to as a stock transfer), executed by the transferor only and specifying (in addition to the particulars of the consideration, of the description and number or amount of the securities, and of the person by whom the transfer is made) the full name and address of the transferee.

(2) The execution of a stock transfer need not be attested; and where such a transfer has been executed for the purpose of a stock exchange transaction, the particulars of the consideration and of the transferee may either be inserted in that transfer or, as the case may require, be supplied by means of separate instruments in the form set out in the Second Schedule to this Act (in this Act referred to as brokers transfers), identifying the stock transfer and specifying the securities to which each such instrument relates and the consideration paid for those securities.

(3) Nothing in this section shall be construed as affecting the validity of any instrument which would be effective to transfer securities apart from this section; and any instrument purporting to be made in any form which was common or usual before the commencement of this Act, or in any other form authorised or required for that purpose apart from this section, shall be sufficient, whether or not it is completed in accordance with the form, if it complies with the requirements as to execution and contents which apply to a stock transfer.

(4) This section applies to fully paid up transferable registered securities of any description, except securities of a company limited by guarantee or an unlimited company.

Supplementary provisions as to simplified transfer.

3.—(1) Section 2 of this Act shall have effect in relation to the transfer of any securities to which that section applies notwithstanding anything to the contrary in any enactment (including the Companies Act, 1963) or instrument relating to the transfer of those securities; but nothing in that section affects—

(a) any right to refuse to register a person as the holder of any securities on any ground other than the form in which those securities purport to be transferred to him; or

(b) any enactment or rule of law regulating the execution of documents by companies or other bodies corporate, or any articles of association or other instrument regulating the execution of documents by any particular company or body corporate.

(2) Subject to the provisions of this section, any enactment or instrument relating to the transfer of securities to which section 2 of this Act applies shall, with any necessary modifications, apply in relation to an instrument of transfer authorised by that section as it applies in relation to an instrument of transfer to which it applies apart from this subsection.

(3) In relation to the transfer of securities by means of a stock transfer and a brokers transfer—

(a) any reference in any enactment or instrument to the delivery or lodging of an instrument (or proper instrument) of transfer shall be construed as a reference to the delivery or lodging of the stock transfer and the brokers transfer;

(b) any such reference to the date on which an instrument of transfer is delivered or lodged shall be construed as a reference to the date by which the later of those transfers to be delivered or lodged has been delivered or lodged; and

(c) subject to paragraphs (a) and (b) of this subsection, the brokers transfer (and not the stock transfer) shall be deemed to be the conveyance or transfer for the purposes of the enactments relating to stamp duty.

Prohibition of circulation of blank transfers.

4.—(1) Where a transfer in blank relating to registered securities has been delivered, pursuant to a sale of those securities, to or to the order of the purchaser or any person acting on his behalf, any person who in the State parts with possession of that transfer, or who removes it or causes or permits it to be removed from the State, before it has been duly completed shall, as well as being liable for the stamp duty chargeable in respect of that transfer, be liable to a penalty of one hundred pounds, and the penalty shall be recoverable in the same manner as if it were part of the duty.

(2) For the purposes of this section “transfer in blank” means a transfer in which the name of the transferee has not been inserted, and a transfer shall be treated as duly completed if, and only if, the name of the transferee is inserted therein, being the name of—

(a) the purchaser of the securities under the sale;

(b) a person entitled to a charge upon the securities for money lent to that purchaser;

(c) a nominee holding as a bare trustee for that purchaser or for any such person as is mentioned in paragraph (b) of this subsection; or

(d) a person acting as the agent of that purchaser for the purposes of the sale.

(3) The foregoing provisions of this section shall apply in relation to a transfer delivered by way of or pursuant to a voluntary disposition inter vivos, being a transfer to which section 74 of the Finance (1909-10) Act, 1910, applies, as they apply in relation to a transfer delivered pursuant to a sale, and as if for any reference to the purchaser there were substituted a reference to the person (in this section referred to as the donee) to whom the disposition is made.

(4) References in this section to the purchaser or donee of any registered securities include references to any person to whom the rights of the purchaser or donee are transmitted by operation of law; and in relation to a transfer chargeable with duty in accordance with subsection (4) or subsection (5) of section 58 of the Stamp Act, 1891, references in this section to the purchaser and a sale shall be construed as references to the sub-purchaser and a sub-sale.

Additional provisions as to transfer forms.

5.—(1) References in this Act to the forms set out in the First and Second Schedules to this Act include references to forms substantially corresponding to those forms respectively.

(2) The Minister may by regulations amend the said Schedules either by altering the forms set out therein or by substituting different forms for those forms or by the addition of forms for use as alternatives to those forms; and references in this Act to the forms set out in those Schedules (including references in this section) shall be construed accordingly.

(3) Any regulations under subsection (2) of this section which substitute a different form for a form set out in the First Schedule to this Act may direct that subsection (3) of section 2 of this Act shall apply with any necessary modifications, in relation to the form for which that form is substituted as it applies to any form which was common or usual before the commencement of this Act.

Laying of regulations before Houses of Oireachtas.

6.—Every regulation made under this Act shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulations is passed by either such House within the next twenty-one days upon which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

Short title and commencement.

7.—(1) This Act may be cited as the Stock Transfer Act, 1963.

(2) This Act shall come into operation on such day as the Minister appoints by order.

FIRST SCHEDULE

FORM (STOCK TRANSFER)

Section 2.

The security represented by the transfer overleaf has been sold as follows:—

SECOND SCHEDULE

FORM (BROKERS TRANSFER)

Section 2.

Uimhir 34 de 1963.

AN tACHT UM AISTRIÚ STOIC, 1963.

[An tiontú oifigiúil.]

Léiriú.

1.—San Acht seo—

ciallaíonn “an tAire” an tAire Airgeadais;

ciallaíonn “urrúis chláraithe” urrúis a bhfuil a sealbhóirí taifeadta i gclár;

folaíonn “urrúis” scaireanna, stoic, bintiúir, stoc bintiúir, stoc iasachta agus bannaí;

ciallaíonn “idirbheart stocmhargaidh” díol agus ceannach urrús i gcás ina bhfuil gach páirtí ina chomhalta de stocmhargadh agus é ag gníomhú i ngnáthchúrsa a ghnó sa cháil sin nó ag gníomhú trí ghníomhaireacht chomhalta den sórt sin;

ciallaíonn “stocmhargadh” Stocmhargadh Chorcaí, Stocmhargadh Bhaile Átha Cliath agus aon stocmhargadh eile a ndearbhaíonn an tAire le rialacháin gur stocmhargadh aitheanta é chun críocha an Achta seo.

Aistriú simplithe ar urrúis.

2.—(1) Féadfar urrúis chláraithe lena mbaineann an t-alt seo a aistriú trí ionstraim faoi láimh san fhoirm atá leagtha amach sa Chéad Sceideal a ghabhann leis an Acht seo (dá ngairtear aistriú stoic san Acht seo), nach bhforghníomhóidh ach amháin an t-aistreoir agus a shonróidh (i dteannta sonraí ar an gcomaoin, ar thuairisc agus líon nó méid na n-urrús, agus ar an duine a rinne an t-aistriú) ainm iomlán agus seoladh an aistrí.

(2) Ní gá forghníomhú aistriú stoic a fhianú; agus i gcás ina mbeidh aistriú den sórt sin forghníomhaithe chun críche idirbhirt stocmhargaidh, féadfar na sonraí na comaoine agus an aistrí a chur isteach san aistriú sin nó, de réir mar is gá sa chás, a chur ar fáil trí ionstraimí ar leithligh san fhoirm atá leagtha amach sa Dara Sceideal a ghabhann leis an Acht seo (dá ngairtear aistrithe bróicéara san Acht seo), ina gcéannófar an t-aistriú stoic agus ina sonrófar na hurrúis lena mbaineann gach ionstraim ar leith acu sin agus an chomaoin a íocadh ar na hurrúis sin.

(3) Ní dhéanfar aon ní san alt seo a fhorléiriú mar ní a dhéanann difear do bhailíocht san ionstraime a bheadh éifeachtúil chun urrúis a aistriú ar leithligh ón alt seo; agus aon ionstraim a airbheartóidh a bheith déanta in aon fhoirm arbh fhoirm choitianta nó foirm ghnách roimh dháta thosach feidhme an Achta seo, nó in aon fhoirm eile ar foirm údaraithe nó foirm riachtanach í chuige sin ar leithligh ón alt seo, cibé acu atá nó nach bhfuil sí comhlánaithe de réir na foirme, má chomhlíonann sí na ceanglais maidir le forghníomhú agus lánais a bhaineann le haistriú stoic.

(4) Baineann an t-alt seo le hurrúis chláraithe inaistrithe láníoctha de thuairisc ar bith, ach amháin urrúis chuideachta faoi theorainn ráthaíochta nó chuideachta neamhtheoranta.

Forálacha forlíontacha maidir le haistriú simplithe.

3.—(1) Beidh éifeacht ag alt 2 den Acht seo maidir le haistriú aon urrús lena mbaineann an t-alt sin d'ainneoin aon ní contrártha dó sin in aon achtachán (lena n-áirítear Acht na gCuideachtaí, 1963) nó ionstraim a bhaineann le haistriú na n-urrús sin; ach ní dhéanann aon ní san alt sin difear—

(a) d'aon cheart chun diúltú duine a chlárú mar shealbhóir ar aon urrúis ar fhoras ar bith seachas an fhoirm ina n-airbheartaítear na hurrúis sin a aistriú chuige; ná

(b) d'aon achtachán nó riail dlí a rialaíonn forghníomhú doiciméad ag cuideachtaí nó ag comhlachtaí corpraithe eile, ná d'aon airteagail chomhlachais nó ionstraim eile a rialaíonn forghníomhú doiciméad ag aon chuideachta nó comhlacht corpraithe sonrach.

(2) Faoi réir forálacha an ailt seo, aon achtachán nó ionstraim a bhaineann le haistriú urrús lena mbaineann alt 2 den Acht seo beidh feidhm aige, modhnaithe más gá sin, maidir le hionstraim aistrithe, a údaraítear leis an alt sin mar atá feidhm aige maidir le hionstraim aistrithe lena mbaineann sé ar leithligh ón bhfo-alt seo.

(3) Maidir le haistriú urrús trí aistriú stoic agus aistriú bróicéara—

(a) déanfar aon tagairt in aon achtachán nó ionstraim do sheachadadh nó do thaisceadh ionstraim (nó cuí-ionstraim) aistrithe a fhorléiriú mar thagairt do sheachadadh nó do thaisceadh an aistrithe stoic agus an aistrithe bhróicéara;

(b) déanfar aon tagairt den sórt sin don dáta a rinneadh ionstraim aistrithe a sheachadadh nó a thaisceadh a fhorléiriú mar thagairt don dáta a rinneadh an t-aistriú ba dhéanaí acu sin a seachadadh nó a taisceadh a sheachadadh nó a thaisceadh agus

(c) faoi réir míreanna (a) agus (b) den fho-alt seo, measfar gurb é an t-aistriú bróicéara (agus nach é an t-aistriú stoic) an tíolacas nó an t-aistriú chun críocha na n-achtachán a bhaineann le dleacht stampa.

Cosc le bán-aistrithe a chur timpeall.

1910, c. 8.

1891, c. 39.

4.—(1) I gcás ina ndéanfar aistriú i mbán maidir le hurrúis chláraithe a sheachadadh, de bhun díol na n-urrús sin, don cheannaitheoir nó d'aon duine ag gníomhú thar a cheann nó de réir ordú an cheannaitheora nó an duine sin, ansin aon duine a scarfaidh sa Stát le seilbh an aistrithe sin, nó a thógfaidh chun siúil é nó a chuirfidh faoi deara nó a cheadóidh é a thabhairt chun siúl as an Stát, sula mbeidh sé comhlánaithe go cuí, dlífear, i dteannta é a bheith faoi dhliteanas i leith an dleacht stampa is inmhuirir i leith an aistrithe sin, fíneáil céad punt a chur air, agus beidh an pionós inghnóthaithe amhail agus dá mba chuid den dleacht é.

(2) Chun críocha an ailt seo ciallaíonn “aistriú i mbán” aistriú nár cuireadh ainm an aistrí isteach ann agus measfar aistriú a bheith comhlánaithe go cuí más rud é, agus amháin más rud é, go mbeidh ainm an aistrí curtha isteach ann, arb éard é—

(a) ainm cheannaitheora na n-urrús faoin díol;

(b) ainm duine a mbeidh teideal aige chun muirir ar na hurrúis i leith airgid a tugadh ar iasach don cheannaitheoir sin;

(c) ainm ainmní a bheidh ag teachtadh mar iontaobhaí ainmniúil don cheannaitheoir sin nó do dhuine ar bith den sórt a luaitear i mír (b) den fho-alt seo; nó

(d) ainm duine ag gníomhú mar ghníomhaire an cheannaitheora sin chun críocha an díola.

(3) Beidh feidhm ag na forálacha sin roimhe seo den alt seo maidir le haistriú arna sheachadadh ar mhodh nó de bhun diúscairt shaorálach inter vivos, is aistriú lena mbaineann alt 74 den Finance (1909-10) Act, 1910, ionann mar atá feidhm acu maidir le haistriú arna sheachadadh de bhun díola, agus ionann is dá gcuirtí in ionad aon tagartha don cheannaitheoir tagairt don duine (dá ngairtear an deontaí san alt seo) chun a ndéantar an diúscairt.

(4) Folóidh tagairtí san alt seo do cheannaitheoir nó do dheontaí aon urrús cláraithe tagairtí d'aon duine a ndéantar cearta an cheannaitheora nó an deontaí a tharchur chuige trí oibriú dlí; agus maidir le haistriú ar arb inmhuirir dleacht de réir fho-alt (4) nó fho-alt (5) d'alt 58 den Stamp Act, 1891, déanfar tagairtí san alt seo don cheannaitheoir agus do dhíol a fhorléiriú mar thagairtí don fhocheannaitheoir agus d'fhodhíol.

Forálacha breise maidir le foirmeacha aistrithe.

5.—(1) Folaíonn tagairtí san Acht seo do na foirmeacha atá leagtha amach sa Chéad agus sa Dara Sceideal a ghabhann leis an Acht seo tagairtí d'fhoirmeacha is comhionann go substaintiúil leis na foirmeacha sin faoi seach.

(2) Féadfaidh an tAire le rialacháin na Sceidil sin a leasú trí na foirmeacha atá leagtha amach ansin a athrú nó trí fhoirmeacha éagsúla a chur in ionad na bhfoirmeacha sin nó trí fhoirmeacha eile a chur ann le húsáid mar mhalairt ar na foirmeacha sin; agus forléireofar dá réir sin tagairtí san Acht seo do na foirmeacha atá leagtha amach sna Sceidil sin (lena n-áirítear tagairtí san alt seo).

(3) Aon rialacháin faoi fho-alt (2) den alt seo a chuirfidh foirm éagsúil in ionad foirm atá leagtha amach sa Chéad Sceideal a ghabhann leis an Acht seo féadfaidh siad a ordú go mbeidh feidhm ag fo-alt (3) d'alt 2 den Acht seo i dteannta aon mhodhnuithe is gá, maidir leis an bhfoirm ar cuireadh an fhoirm sin ina hionad, amhail mar atá feidhm aige maidir le haon fhoirm arb fhoirm choitianta nó foirm ghnách í roimh dháta thosach feidhme an Achta seo.

Rialacháin a leagan faoi bhráid Thithe an Oireachtas.

6.—Gach rialachán a dhéanfar faoin Acht seo leagfar é faoi bhráid gach Tí den Oireachtas a luaithe is féidir tar éis a dhéanta agus má dhéanann ceachtar Teach acu sin, laistigh den lá agus fiche a shuífidh an Teach sin tar éis an rialachán a leagan faoina bhráid, rún a rith ag neamhniú an rialacháin, beidh an rialachán ar neamhní dá réir sin, ach sin gan dochar do bhailíocht aon ní a rinneadh roimhe sin faoin rialachán.

Gearrtheideal agus tosach feidhme.

7.—(1) Féadfar an tAcht um Aistriú Stoic, 1963, a ghairm den Acht seo.

(2) Tiocfaidh an tAcht seo i ngníomh cibé lá a cheapfaidh an tAire le hordú.

AN CHÉAD SCEIDEAL

FOIRM (AISTRIÚ STOIC)

Alt 2.

Táthar tar éis an t-urrús lena mbaineann an t-aistriú lastall a dhíol mar a leanas:—

AN DARA SCEIDEAL

FOIRM (AISTRIÚ BRÓICÉARA)

Alt 2.