Adding, removing and managing share allocations

A company may decide to add, remove or manage share allocations to reflect the number of shares a shareholder/s hold.  These changes should be reflected in the company's share register and notified to the Registrar of Companies at the point of filing your annual return.  You can however, choose to update this information on the Companies Office website at any time.

Key points

• A company must have at least one share.
• How the company's shares are held is reflected by share allocations.  The shares have no monetary value.
• A company can have one or more share allocation and a share allocation can have one or more shareholders.
• If a share allocation has more than one shareholder the shares will be jointly owned by those shareholders.
   

Learn more about...

• Adding a share allocation
• Removing a share allocation
• Managing existing share allocations

Adding a share allocation

Each allocation must have at least one shareholder.

1. Select the Add new allocation option to add a new share allocation
2. The new share allocation will appear in the same screen, enter the number of shares in the box provided.
3. Within the share allocation select the black drop down menu labelled Select Shareholder to display a list all of the shareholders .
4. Tick the box next to each shareholder that should be included in that allocation.

Note | If the shareholder you want to add isn't included in the dropdown menu, make sure they have been added as a shareholder before you amend the share allocations.

Removing a share allocation

An allocation can be removed by selecting the Remove this allocation option.

• Once an allocation is removed, the shares from that allocation need to be allocated to another share allocation, or, the total number of shares needs to be decreased to match the total number of shares allocated.
• All shareholders on the shareholder list need to be assigned to at least one share allocation, so ensure that shareholders from the deleted allocation are:
  
  • Assigned to another share allocation; or
  • Removed from the list of shareholders.

Managing existing share allocations

Share allocations can be amended in a number of ways.

Select show details on the allocation that you want to amend. This expands the share allocation to display the details of all shareholders.

• To remove a shareholder from the share allocation, select the small blue and white cross that appears next to each shareholder.
• To add a shareholder from the share allocation, select the shareholder from the Select shareholder drop down box in the allocation.
  
  • Each allocation must have a shareholder and every shareholder on the list must be assigned to at least one allocation, so at least one shareholder must be selected.  If a shareholder doesn't appear, make sure they are on the list of shareholders by adding them there first.
• To alter the number of shares in the allocation, simply change the number listed in the ‘number of shares’ field.  Make sure that the total number of shares is allocated throughout the share allocations.