An unincorporated association’s assets include shares in a private limited company.
The statutory register of members notes two individuals, holding those shares as trustee on behalf of the UA; one individual holding 1 ordinary share and the other holding 499,999 ordinary shares.
Both individuals died some time ago and the statutory register was not updated.
The UA has surviving trustees, but they are just not named on the statutory register.
How is the statutory register updated? Do we need the PRs of the last to die of the two named trustees to execute a stock transfer form in favour of two surviving trustees?
Elizabeth Cotton
Capital Law