Who is responsible for the share ledger, and is it public?
In a Swedish limited company that is not a central securities depository company, the board is responsible for keeping, preserving and making the share ledger available. It must be available at the company to anyone wishing to inspect it. This does not mean that the company must publish it openly online. See Chapter 5, Sections 7 and 10 of the Swedish Companies Act.
The board and day-to-day administration
The board can delegate practical work, but an administrator or digital tool does not take over the board’s statutory responsibility. Depository companies have separate rules about who keeps the ledger, so the same description should not be applied to every Swedish company. Read what a share ledger is.
When a person proves that shares have been acquired, the new shareholder must be entered without delay, subject to applicable transfer restrictions. This follows from Chapter 5, Section 9.
What does access mean?
If the ledger is kept digitally, a current printout or another current representation must be available at the company. The company needs to meet the statutory access requirement even if only authorized users can access its working system. See Chapter 5, Section 10.
Kvanta supports digital share-ledger administration with permissions and controlled changes.