Section 56 of the Companies Act of 2013 elaborates on the concept of transmission of shares. The section empowers the company to register on receipt of an intimation of any rights to securities by operation of law from any person to whom such right has been transmitted.  Along with the Companies, Act of 2013, Rule 11 of the Companies (Share Capital & Debenture) Rules of 2014 also talks about the transmission of shares.