Explain the following term/concept.Transmission of shares. – InterviewSolution

1.	Explain the following term/concept.Transmission of shares.
Answer» Transmission of shares means the transfer of the title of shares by the operation of law. When the shares of a member are automatically transferred to another person on the death, insolvency, or insanity of a member it is called Transmission of shares. Transmission of shares is an involuntary action. There is only one party i.e., a legal heir who indicates the process of transmission. The legal heir or official receiver need not pay any consideration for the shares. There is no need to submit an Instrument of Transfer of pay stamp duty.

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