Share Transfer Process

See Articles (search for "Transfer")  

Objective: That the purchaser sign the "BHC Share Transfer" pack (before the BHC Special Director vote) and that the "signed BHC pack" is then added to the Contract of Sale as a BHC Addendum.

Note: Article 90. Shares shall confer upon the holder thereof during the period of holding the following rights, privileges and conditions –

(1) The right to reside......  

Transfer of Share Certificates

• Phase 1 - Intent to Sell

  1. (Vendor) Initial and any subsequent Notice of intention to sell - See Articles

  2. (Secretary) Convene Special Directors meeting at the Vendors request - Need 1 month notice / 13 quorum etc etc

• Phase 2 - (Back) On the Market

  1. (Vendor and Purchaser) Liaise with the Real Estate agencies - See here >>>

• Phase 3 - Accepted Purchaser by Vendor

  1. (Secretary) Liaise with prospective Purchasers and Vendors conveyancers - 

     1. (Secretary) OnBoard prospect to prospect@BHC email

  2. (Vendor) to liaise with each BHC member to follow their own prospect Vetting process

  3. Ratified on 28 July 2024 by the Directors - (Purchaser) - Community Policies / Articles / By-Laws. New purchaser completes the BHC Agreement to follow our Code / Regulations / By-Laws etc - see below:

     1. Agreement to abide by the  Articles and DA - see here

     2. No-Dog By-Law - see here

     3. Code of Conduct - see here

     4. Mission Statement - see here

     5. BHC Website Secretary processes - 

     6. Other - TBC

  4. (Secretary) Special Directors meeting - Requires 4-6 weeks Notice. Vote on acceptance or not - with any conditions (if applicable)

     1. If accepted go to Phase 4

     2. If not accepted return to Phase 2

• Phase 4 - Accepted Purchaser by BHC Directors

  1. (BHC Treasurer) confirms Vendor accounts are reconciled to $0

  2. BHC Pty Ltd is NOT to be added as a party/signatory to the "Contract for the Sale of Shares for a Company Title Lot"

     1. See Directors minutes - 28 January 2024 - Share Transfer process - The BHC Directors would like to remind all members that BHC is NOT a party to the “Contract of Sale” between the Vendor and Purchaser. All vendors to communicate this to those acting for them.

  3. (Vendor / Purchaser) Confirmation of Settlement via email from Both Conveyancers that the Sale has been finalised be sending the countersigned "Contract for the Sale of Shares for a Company Title Lot" AND "Transfer of Share" form  to BHC Secretary on bhc.secretary@blackhorsecreek.community.  

  4. Share Transfer Form process

     1. BHC Membership

        1. (Purchaser) Completed the "Application for Shares" form - see below

        2. (Vendor / Purchaser) Completed the "Transfer of Share" form - see below

        3. (TBC) Complete the OLD Certificate with the NEW purchaser details (Form of Transfer section of Certificate) - 

        4. (Secretary) Create NEW Share Certificate with the new No# and Purchaser details

        5. (Secretary) Register new member in the "BHC Register of Members"

        6. (Secretary) Update the "Share Transfer Journal".  Note - it is the practice of the BHC Secretary to withhold the Share Certificate until a "Stamp Duty" reciept has been supplied. 

     2. Directorship - If agreed

        1. (Purchaser) Completed the "Consent to be a Director of BHC" - see below

           • and if so  Obtain Directors ID and Alternate Director ID and give to BHC Secretary

        2. (Secretary) Complete the "Register of Directors"

        3. (Secretary) Add new purchaser (with Alternate) to ASIC  (Form 484??) if Directors ID(s) are available

     3. Community/Director Meetings

        1. (Secretary) Add new purchaser email to BHC Contact Lists for Notices and BHC Website access

     4. (All) The End > Party!

The BHC pack is made up of the 4 documents below.

Purchaser to PRINT the following forms and complete / sign and return to the Vendor before the BHC Special Directors vote

1. Application for Shares

2. BHC Agreement 

3. Directors Consent

Purchaser to PRINT the following forms and complete / sign and return to the BHC Secretary after the property Contract of Sale has settled

1. Transfer of Share (Signed by Transferor (vendor) and Transferee (purchaser))

Purchaser to PAY the Stamp Duty and deliver the receipt to the BHC Secretary for filing with the Transfer of Share form.  Without the Stamp Duty receipt the BHC Share Certificate cannot be released.