Dealing with shares on a shareholder's death: The plight of the deceased's personal representative

Halim, Akmal Hidayah and Mohd Salim, Wan Noraini and Hassan, Halyani and Mohd Noor, Nor Azlina and Arshad, Azhani (2015) Dealing with shares on a shareholder's death: The plight of the deceased's personal representative. Global Journal of Business and Social Science Review, 1 (1). pp. 25-32. ISSN 2289-8506

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Abstract

Objective – This paper aims to examine the extent of personal representative‘s duties and liabilities in dealing with shares on the death of a shareholder. The paper also analyses the procedure to administer the shares and the available options to the estate beneficiaries with regards to their entitlements to the shares. Methodology/Technique – The discussion adopts the doctrinal analysis by examining the existing primary and secondary materials including statutory provisions as provided by the Probate and Administration Act 1959 and the Companies Act 1965, case law and other legal and non-legal literatures relating to the duties and liabilities of the personal representative in dealing with the deceased’s shares. Findings – The personal representative stands vulnerable to be sued for civil liability for the loss arising from his failure to promptly realize and convert the shares, or charged for criminal offences in cases where he wastes or converts the shares to his own personal use. As for estate beneficiaries, their rights to the shares are subject to the Memorandum and Articles of Association of each company. Novelty –This paper highlights the procedure to administer shares that constitute part of the deceased’s estate in Malaysia. Type of Paper: Conceptual

Item Type:	Article (Journal)
Additional Information:	3140/42244
Uncontrolled Keywords:	Shareholder’s Death; Shares; Estate Distribution; Personal Representative; Malaysian Law
Subjects:	K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws
Depositing User:	Assoc Prof Akmal Hidayah Halim
Date Deposited:	10 Mar 2015 08:56
Last Modified:	10 Mar 2015 08:56
URI:	http://irep.iium.edu.my/id/eprint/42244

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