Which requirement must a share certificate fulfill according to the BCA?

A share certificate serves as a legal document that confirms a person's ownership of shares in a company. According to the Business Corporations Act (BCA), one of the essential requirements for a share certificate is that it must state any rights or restrictions attached to the shares. This information is crucial because it informs the shareholder about the specific privileges and limitations associated with their shares, such as voting rights, dividend entitlements, or transfer restrictions. This helps ensure transparency and informs shareholders about the nature of their investment in the company.

In contrast, while a share certificate may benefit from including the trade name of the company for identification purposes, this is not a required component under the BCA. The current market value of shares is also not included on the share certificate because market values fluctuate frequently and are not static features of the shares themselves. Lastly, listing the names of all shareholders is impractical for a share certificate, as it would need to be updated constantly due to transfer of ownership and newly issued shares. Therefore, the inclusion of rights or restrictions attached to shares stands as a fundamental requirement under the BCA.