Submission Of Information In Respect Of Share Warrants To Bearer
26 June 2013
Posted by: Author: SARS Legal and Policy
Author: SARS Legal and Policy
All companies that issued share warrants to bearer are required to submit a declaration to assist the South African Revenue Service (SARS) in confirming the number of these share warrants still in circulation and any dividends paid.
As documented in the Government Gazette 36565 Public Notice 421 (14 June 2013) available on the SARS website www.sars.gov.za, "Returns are required to be submitted by companies that have issued share warrants to bearer in terms of the Companies Act, 1926, or the Companies Act, 1973, and still have such share warrants in issue.”
The Exchange Control Regulations, 1961, placed substantial restrictions on dealings in share warrants to bearer, therefore it is not anticipated that many companies will still have share warrants to bearer in issue. In addition, the Companies Act, 1973, permitted only public companies to issue share warrants to bearer. For more information read the explanatory note available on the SARS website www.sars.gov.za.
The SBW01 - Return of Share Warrants to Bearer form must be completed and submitted to SARS on or before 31 July 2013.
Should you require further assistance, email your query to firstname.lastname@example.org. Only queries relating to share warrants to bearer will be dealt with. Any other queries should be directed to the SARS Contact Centre on 0800 00 SARS (7277)mailto:email@example.com. or you could visit your nearest SARS branch.
Issued on behalf of the Commisioner for the South African Revenue Service