I have an example which may add to the discussion here. In the...

I have an example which may add to the discussion here. In the case I've shown below you can only transfer he shares on death.

I don't really know why or how, but through a small holding of GPT I got an In specie Dividend of ordinary shares in BGP Holdings plc (registered in Malta). I now have a holding statement (from Link Market Services Ltd, which is the reg. serv. provider for BGP Holdings) that tells me how many shares I hold. A couple of points:

a) Without reading the fine print I think I maintain ownership of these shares even if I sell the GPT shares

and the more interesting point,

b) Looking up frequently asked questions relating to these shares

Frequently Asked Questions
How do I invest/how do I buy securities/how do I sell securities?
BGP Holdings shares are unlisted and not transferable, except for transmission on death or by operation of law.

How do I redeem my investment?
BGP Holdings shares are unlisted and not transferable, except for transmission on death or by operation of law.

What is my investment worth?
BGP Holdings shares are not transferable and do not trade on any stock exchange. A beneficial interest in the shares was provided to GPT investors via an In Specie Dividend. For details, refer to the Information Memorandum (PDF 861KB).

In what form are payments (dividends) from BGP made?
Any payments will be made via cheque or direct credit into investor’s nominated bank, building society or credit union account.

When is the next payment from BGP?
Dividends will only be paid if and when net proceeds (after the repayment of property level debt and associated costs (including operating costs or provisions for future operating costs)) are realised from the sale of assets.

When will I receive the annual tax statement?
A tax statement for the relevant financial year will be mailed, if required, each July.

How do I change my address/bank details?
To do this, you need to send written authorisation to the Registry quoting your Holder number and signing your request. Unfortunately, it is not possible to do this over the internet as your signature is required.

How do I give notification of my Tax File Number (TFN) or Australian Business Number (ABN)?
Advice of TFNs or ABNs can be made over the phone or in writing to the Registry. You may choose not to provide your TFN but if you do not provide your TFN your distribution will be taxed at the highest marginal rate.

How can I choose to receive or no longer receive the Annual Report?
This can be requested by writing to the Registry.

How do I transfer shares in relation to a deceased estate?
Details are found on the Registry’s website.

What are the contact details for the Registry?
Link Market Services Limited
Level 12, 680 George Street
Sydney NSW 2000
Freecall (within Australia): 1800 115 044
Telephone (outside Australia): +61 2 8280 7058
Fax: +61 2 9287 0303
Email: [email protected]
Website: www.linkmarketservices.com.au