With regard to the acquisition of shares, commercial or patrimonial transactions, Malaysian law does not impose any obligation to notify or consult employees or employee representatives. Nevertheless, the transfer of shares requires the approval of the board of directors. Q: Are there any restrictions on the transfer of shares in a limited liability company? Do transfer duties have to be paid on the transfer of shares in a business, undertaking or asset? If so, what is the rate of such a transfer tax and which party usually bears the costs? There are differences between legal titles and advantageous titles. A registered shareholder is considered the rightful owner of the shares registered under his or her name, but may hold those shares in the interest and for the benefit of a beneficial owner under a fiduciary or nominee agreement. However, the creation of most corporations would provide that no person, except as provided by law, is recognized by the corporation as the holder of a share in a trust and that the corporation may in no way be bound by a reasonable, conditional, future or partial interest in a share or other rights in a share, nor be coerced in any way: recognize them. A shareholder or member owns a company by holding his shares. It is a director who runs the company. A director does not need to be a shareholder and a shareholder does not have the right to be a director.