| 1. The Conveyancing Committee is not in favour of a reduction of 25% in respect of bonds and 20% in respect of transfers of the prescribed fee.This will create a precedent which might result in a situation where conveyancers will have to register low cost housing transfers at an even greater loss as is the case at present. |
| 2. It has come to the attention of the Conveyancing Committee that the fees of legal practitioners widely differ in respect of registration of transfer of shares and interest in Companies and Close Corporations. The situation is untenable. At its meeting held on 24 July 2002 the Committee decided to propose the following minimum tariffs. |
| (i) Sale of Shares in Company/Sale of interest in Close Corporation |
| (Company or Close Corporation being registered owner of land) |
| Legal Practitioner not preparing the Deed of Sale |
| The same fee as fee prescribed in Schedule 1 to the Deeds Registries Regulations being the fees for Conveyance of immovable property with a minimum of N$1 500.00 per transaction. |
| The fee is to be an all inclusive fee for all services rendered including the financial arrangements, preparation and registration of CC2, but excluding any fees payable to Auditors and/or Accounting Officers in respect of secretarial matters. |
| • Sale of Shares in Company/Sale of Interest in Close Corporation |
| (Company or Close Corporation being registered owner of land) |
| Legal Practitioner consulting with client and preparing the Deed of Sales |
| The same fee as fee prescribed in Schedule 1 to the Deeds Registries Regulations being the fees for Conveyance of immovable property with a minimum of N$ 3500,00 per transaction. |
| The fee is to be an all inclusive fee for all services rendered including the financial arrangements, preparation and registration of CC2, but excluding any fees payable to Auditors and/or Accounting Officers in respect of Company and/or Close Corporation secretarial matters. |
| 3. (i) Donation of land in favour of Company or Close Corporation to be registered simultaneously with the |
| • Sale of Shares in such Company or Sale of Interest in such Close Corporation |
| (a) Donation transfer |
| The fee as prescribed in Schedule 1 to the Deeds Regulations being the Fees for Conveyance of immovable property based on the value of property accepted by the Receiver of Revenue for Transfer Duty and Stamp Duty purposes. |
| • Preparation of Sale of Shares/Internet Agreement |
| Fee N$ 3500,00 |
| Registration of CC1/Registration of Company |
| Fee in accordance with Guidelines of Law Society in respect of non-litigious matters. |
| Registration of CC2 |
| Fee in accordance with Guidelines of Law Society in respect of non-litigious matters. |
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