A share class label check should start with the approved share terms and company records, rather than the nickname used in a spreadsheet. Two holdings called ordinary internally may not necessarily have identical rights. Ask the company secretary to resolve any inconsistency before those labels are used in a new corporate document.
Identify the documents behind the label
Gather the constitution, relevant approved issue terms and current share records. Record the document versions and where each description appears. An informal capitalisation table is a useful working aid, but it should not silently override the underlying records.
Separate a spelling difference from a possible difference in rights. The administrator should describe the discrepancy and refer its meaning for review. Do not conclude that voting, dividend or other entitlements are the same merely because a column heading matches.
Keep holdings distinguishable during review
Use an internal reference for each affected holding while the secretary checks the descriptions. Preserve quantities, holders and transaction references. Avoid merging rows to produce a neater total when that could erase a distinction that still needs assessment.
A correction to an internal label is different from changing share rights. If the underlying terms may need amendment, obtain appropriate corporate and legal advice. This checklist does not authorise an amendment or decide which approval process applies.
Example: two approved issues use different terms
The working sheet calls both issues ordinary, but their approved documents use different class descriptions. Retain both document sets and ask the secretary to explain the proper classification. Do not rename one class retrospectively merely to make a filing draft agree with the sheet.
Reconcile the approved description
Once the position is established, identify which working records, register descriptions or filing particulars require attention. Record the reviewer, evidence and approved wording. Keep any unresolved legal question separate from a simple transcription task.
Preserve the historical trail
Retain the original inconsistent sheet with the reconciliation note and corrected version. ACRA’s guidance on maintaining company information supplies the wider context. Future administrators should be able to trace the chosen description without having to guess why two similarly labelled rows were kept apart.
Related practical guidance
For the surrounding records and responsibilities, see maintaining statutory records, the company secretary role, company recordkeeping.
Official guidance: ACRA company guidance.
Help with your company records
For corporate secretarial and company administration support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.
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