SHARE CERTIFICATE
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SHARE WARRANT
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Meaning
A share certificate is the registered document of title to the shares, issued by the company under its common seal.
Who issue the document?
It is issued by public as well as private company.
Nature of Shares as regards paid up value?
A share certificate can be issued for fully paid as well as partly paid shares.
Time of Issue
A company initially (at first) has to issue share certificate.
Sanction of government
Central Government’s sanction is not required to issue share certificate.
Provision in the Articles
Provision to issue share certificate is not necessary in Articles.
Stamp Duty
The stamp duty on issuing share certificate is nominal.
Negotiability
Share Certificate is not a negotiable (transferable) document.
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A share warrant is a document issued under a common seal of a public company stating that the bearer of instrument has the title of the shares mentioned there in.
Only Public limited companies can issue Share warrants.
It is issued only in case of fully paid shares.
After collection of the amount if the shareholder wishes, company can issue share warrant against the share certificate.
The Sanction of Central government is required to issue share warrant.
Articles must provide for issue of share warrant.
Heavy stamp duty is to be paid on the issue of share warrant.
Share Warrant is a negotiable document. Anyone holding the instrument can get the ownership of shares.
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SHARE CERTIFICATE SHARE WARRANT
