16. Membership and the incidents of membership

Abstract

This chapter discusses the law on membership and the incidents of membership. The discussion covers classes of shares, class rights, share transfer and transmission, and the register of members. The chapter considers how people become members and the importance of entry on the register of members. It also considers the restrictions on access to the register and the power of the court to rectify the register when necessary to do so. It is possible to protect shareholders by providing for classes of shares and the chapter considers the protection afforded by class rights and how class rights, once created, can be varied subsequently. Share transfer and transmission is also considered.