New Bearer Shares Regime Fees Custodians Authorised Custodians Recognised Custodians Requirements for Shareholders Transfer of Bearer Shares Alternatives Cancellation of Bearer Shares Register of Directors

IBC Bearer Shares Custodians

To comply with the new bearer shares regime the bearer share certificates should be deposited with a custodian. There are two types of custodians – authorised and recognised. Bearer shares issued before 1 January 2005 have to be placed with a licenced custodian by 31 December 2010. Otherwise, they should be exchanged for registered shares or they should be cancelled or redeemed by this date. Bearer shares issued by an existing company on or after 1 January 2005 have to be placed with an approved custodian upon issuance.