Singapore legislation
Section 44
Section 44
Restriction on transfer of shares or interest
(1)
The transfer or charge of the share or interest of a member or past member or deceased member in the capital of a society is subject to such conditions as to maximum holding as are laid down in section 43.
(2)
No member of a society may transfer any share held by the member or the member’s interest in the capital of the society or any part thereof unless —
(a)
the member has held that share or interest for at least one year; and
(b)
the transfer or charge is in favour of the society, a member of the society or a person or a trade union whose application for membership has been accepted by the committee of management of the society.