Every company must keep a register of members but inspection of the register by persons who are not members or officers of the company is not permitted in the case of a private company which is an exempt company (i.e. a company which is exempt from all taxes under the Companies Act).

Subject as otherwise provided in the Companies Act, every company must issue share certificates in respect of shares allotted by it.

A private company which is an exempt company may issue bearer certificates in respect of fully paid-up shares.

No share certificate issued by a company shall in any manner whatsoever bear any indication of the stated value of the shares comprised in it.