I am hoping that someone may be able to assist on this, I am fairly new to ASIC legislation.
I have been given the task of transferring some shares from one share holder to another, the issue that i am having is that I am told the share price is different to the price in the ordinary share. I do not understand what this means and if it can be changed.
Any help on this this morning would be very much appreciated.
Thank you for your post.
Generally on a share transfer the ‘value’ of the share does not change. If the shares were $1 shares, and then were transferred at a different price, they are still $1 shares in ASIC’s eyes.
If there is a different price, then this should be added the ‘Consideration’ section of the share transfer transaction screen. This will keep the shares at the $1 price on all ASIC forms, and will show the ‘Consideration’ on the share transfer form.
We do have an article on this here - Why is consideration of a share transfer not filled onto Form 484 – CAS 360 Knowledge Centre
Hope this helps