Trusts not to
be entered
on register.
S Edw. 7 c.
69 s. 27.
Registration
of transfer
462
(7) In the case of a company which has a local register licence under section 35 of this Ordin- ance the number of shares on such local register and their distinguishing numbers or marks if
aby.
(3) The summary must also (except where the company is a private company) include a statement, made up to such date as may be specified in the statement, in the form of a balance sheet, audited by the company's auditors, and containing a summary of its share capital, its liabilities, and its assets, giving such particulars as will disclose the general nature of those liabilities and assets, and how the values of the fixed assets have been arrived at, but the balance sheet need not include a statement of profit and loss.
(4) The above list and summary must be contained in a separate part of the register of members, and must be completed with twenty-one days after the fourteenth day aforesaid, and the company must forthwith forward to the registrar of companies a copy signed by the manager or by the secretary of the company.
(5) If a company makes default in complying with the requirements of this section it shall be liable to a fine nor exceeding fifty dollars for every day during which the default continues, and every director and manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.
28. No notice of any trust, expressed, implied, or con- structive, shall be entered on the register, or be receivable by the registrar.
29. On the application of the transferor of any share or interest in a company, the company shall enter in its at request of register of members the name of the transferee in the same manner and subject to the same conditions as if the application for the entry were made by the transferee.
transferor.
Jb. 8. 28.
Transfer by personal re- presentative. Ib. s. 29.
Inspection of register of members. Ib, s. 30.
30. A transfer of the share or other interest of a deceased member of a company made by his personal representative shall, although the personal representative is not himself a member, be as valid as if he had been a member at the time of the execution of the instrument of transfer.
31.—(1) The register of members, commencing from the date of the registration of the company, shall be kept at the registered office of the company, and, except when closed under the provisions of this Ordinance, shall during business hours (subject to such reasonable restrictions as the company in general meeting may impose, so that not less than two hours in each day be allowed for inspection? be open to the inspection of the registrar of companies or of any member withour fee, and to the inspection of any other person on payment of fifty cents, or such less sum as
the company may prescribe, for each inspection.
(2) Any member or other person may require a copy of the register, or of any part thereof, or of the list and summary required by this Ordinance, or any part thereof, on payment of twenty-five cents or such less sum as the company may prescribe, for every hundred words or fractional part thereof required to be copied.
(3) If any inspection or copy required under this section is refused, the company shall be liable for each refusal to a fine not exceeding twenty dollars, and to a further fine not exceeding twenty dollars for every day during which the refusal continues, and every director and manager of the company who knowingly authorises or permits the refusal shall be liable to the like penalty: and, any judge of the court, may by order compel an immediate inspection of the register.
(4) If such inspection of copy cannot be obtained at the registered office of the company with the exercise of a reasonable amount of diligence the company shall be liable to the same penalities as if such inspection or copy had been actually refused.
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