The role of Share Registrars/ Transfer Agents and Ballotters is very important as they are involved in the issuance and transfer of shares, maintenance of share registers, issuance of dividend warrants and bonus shares on behalf of the issuer. Ballotters role is also of important nature as they have to conduct fair and transparent balloting for the investors in IPOs. SECP promulgated the Balloters and Transfer Agents Rules, 2015 (BTA Rules) on April 02, 2015. All the BTAs are required to be registered with SECP for providing business as Share registrar/ Transfer Agent and Balloter. BTA Rules prescribes the eligibility conditions, registration procedure and Duties and responsibilities of Share Registrars/ Transfer Agents and Ballotters.
Registration of BTAs
An application for registration as a balloter and transfer agent shall be made to the Commission in Form ‘A’ along with all the documents specified in Annexure ‘A’ and receipt evidencing payment of non-refundable fee of such amount as set out in Schedule 1. The Commission, while considering the application for registration, may require the applicant to furnish such further information or clarification regarding its activities and businesses as it deems appropriate.
Renewal of BTAs
For renewal of registration, a balloter and transfer agent shall, three months prior to the date of expiry of its registration, apply to the Commission in Form ‘C’ providing therewith a receipt evidencing payment of a non-refundable renewal fee of such amount as prescribed in Schedule I and submit such documents as specified in Annexure ‘C’. The Commission if satisfied that the applicant continues to meet the requirements for registration and is eligible for renewal of registration shall renew the registration of the balloter and transfer agent and issue a certificate of renewal of registration to the applicant in Form ‘D’.
The detailed procedure for registration/renewal and Annexures and Forms as mentioned above may be seen in