An elderly friend of mine bought shares in Bank of Ireland in 2014 to help fund the education of his youngest daughter's children. When registering the shares, he added his eldest son's name to the share certificate even though that son did not contribute any money to the purchase. My friend included his son's name to signal to the rest of his family that if he died, the son would guarantee that the money would be invested as he intended. As a result, the share certificate bears both names.
Fast-forward eleven years. His granddaughters did not need the money, and now he wants to remove his son's name from the share certificate and sell the shares. ComputerShare has sent him a Stock Transfer Form to create a new share certificate, which I have 90% completed.
Am I right in thinking that this transfer is exempt from stamp duty, and if so, which of Section 9 (1) should I tick?
Fast-forward eleven years. His granddaughters did not need the money, and now he wants to remove his son's name from the share certificate and sell the shares. ComputerShare has sent him a Stock Transfer Form to create a new share certificate, which I have 90% completed.
Am I right in thinking that this transfer is exempt from stamp duty, and if so, which of Section 9 (1) should I tick?