Document background
The Deed of Assignment of Shares is a crucial legal instrument used in New Zealand corporate transactions to facilitate and document the transfer of share ownership. This document is typically required when a shareholder wishes to transfer their shares to another party, whether in the context of a sale, gift, or corporate restructuring. The deed must comply with New Zealand's Companies Act 1993 and other relevant legislation, ensuring that the transfer is legally valid and properly documented. It includes essential details such as the parties involved, the number and class of shares being transferred, the consideration paid, and various warranties and undertakings. The document is particularly important for maintaining accurate company records, satisfying regulatory requirements, and providing clear evidence of the transfer of ownership. The formal nature of a deed provides additional legal certainty compared to a simple contract, making it the preferred format for significant share transfers in New Zealand.
