Revised Laws of Saint Lucia (2021)

26.   Nature of shares

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    (1)   Shares in a company are personal estate and are not of the nature of real estate; and a share is transferable in the manner provided by this Act.

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    (2)   Shares in a company are to be without nominal or par value.

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    (3)   When a former-Act company is continued under this Act, a share with nominal or par value issued by the company before it was so continued is, for the purposes of subsection (2), deemed to be a share without nominal or par value.

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    (4)   Subject to subsection (5), each share in a company shall be distinguished by an appropriate designation.

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    (5)   If at any time all the issued shares in a company, or all the issued shares of a particular class in a company, rank equally for all purposes, none of those shares need thereafter have a distinguishing designation so long as it ranks equally for all purposes with all shares for the time being issued, or, as the case may be, all the shares for the time being issued of the particular class.