In the case of a transfer or of a transmission causa mortis of shares the company shall within fourteen days after the date on which a transfer of any such shares is registered with the company, and within one month from the date on which any such shares transmitted causa mortis have been registered in the name of the person entitled to be registered as the holder thereof, deliver to the Registrar of Companies for registration a notice of the transfer or the transmission causa mortis stating the names and addresses of the transferees or the names and addresses of the persons entitled to the shares transmitted causa mortis, as the case may be.
Provided that in the case of public companies whose shares are admitted to listing on a regulated market or on an equivalent market in a non-Member State or non-EEA State, the delivery to the Registrar shall take place within ninety days after the date on which a transfer of any such shares is registered with the company, and within ninety days from the date on which any such shares transmitted causa mortis have been registered in the name of the person entitled to be registered as the holder thereof.
Please note that the Registrar of Companies may not accept for registration any document or notice regarding a transfer of shares unless evidence is produced that the said transfer has been notified to the Commissioner of Inland Revenue. A receipt stamp is usually given by the Commissioner on the relevant document to be submitted to the Registrar as evidence of notification. The Form T must be accompanied by identification documents and bank reference.
If the return is not submitted on time every officer of the company who is in default shall be liable to a penalty, and, for every day during which the default continues, to a further penalty.