COMPANIES ACT - 1963 (ACT 179)

    Section - 95 - Restrictions on Transferability of Shares

    (1) Except as expressly provided in the company's Regulations shares shall be transferable without restriction by a written transfer in common form.

    (2) Subject to section 294 of this Code, the company's Regulations may impose restrictions of any nature whatsoever on the transferability of shares, including power for the directors to refuse to register any transfer and provisions for compulsory acquisition or rights of first refusal in favour of other members or officers of the company:

    Provided that no restriction shall be imposed on the transferability of any shares after the same have been issued unless the holders thereof shall consent in writing.

    (3) Notwithstanding subsection (1) of this section a company may refuse to register a transfer of shares to any person who is an infant or to any one found by a competent court in Ghana to be or a person of unsound mind.