certification

certification

1. a means of recording the details of a transaction in SHARES involving noting on the TRANSFER DEED that the SHARE CERTIFICATE has been placed with the company or its representative. Certification is necessary where a seller is not selling all of his shareholding or where a block of shares are bought by more than one person to enable new share certificates to be issued which reflect the new ownership of the shares.
2. a status granted by a manufacturer to a supplier which is able to demonstrate that it is able to achieve consistent QUALITY in the materials or components it supplies. The materials or components supplied by a certified supplier can be used directly by the manufacturer without the need for INSPECTION of these items. See QUALITY CONTROL.