The Stock Transfer Act 1963 requires shares to be transferred by the transferor signing a stock transfer form in favour of the transferee. (Electronic transfers are now used to transafer shares in public companies under the CREST system.) The transfer must be registered in the share register of the company (in respect of which the shares are being transferred). To do this, the existing share certificate together with the stock transfer form must be sent to the company’s registrar. Title only passes on registration of the transferee as the new shareholder.