A.D. 1865.]
COMPANIES.
[No. 1.
cease as to so much of the capital as is converted into stock; and the register of members hereby required to be kept by the company, and the list of members to be forwarded to the Registrar, shall show the amount of stock held by each member in the list instead of the amount of shares and the particulars relating to shares hereinbefore required.
34. Any company limited by shares may, by special resolution, so far modify the conditions contained in its memorandum of association, if authorized to do so by its regulations as originally framed or as altered by special resolution, as, by subdivision of its existing shares or any of them, to divide its capital, or any part thereof, into shares of smaller amount than is fixed by its memorandum of association: Provided that in the subdivision of the existing shares the proportion between the amount which is paid and the amount, if any, which is unpaid on each share of reduced amount shall be the same as it was in the case of the existing share or shares from which the share of reduced amount is derived.
35.--(1.) The statement of the number and amount of the shares into which the capital of the company is divided contained in every copy of the memorandum of association issued after the passing of any such special resolution shall be in accordance with such resolution.
(2.) Any company which makes default in complying with the provisions of this section shall be liable to a penalty not exceeding five dollars for each copy in respect of which such default is made; and every director and manager of the company who knowingly or wilfully authorizes or permits such default shall be liable to the like penalty.
36. No notice of any trust, expressed, implied, or constructive, shall be entered on the register, or be receivable by the Registrar of Companies, in the case of companies under this Ordinance.
37. A company shall, on the application of the transferor of a share or interest in the company, enter in its register of members the name of the transferee of such share or interest, in the same manner and subject to the same conditions as if the application for such entry were made by the transferee.
38. A certificate under the common seal of the company, specifying any share or shares or stock held by any member of a company, shall be primâ facie evidence of the title of the member to the share or shares or stock therein specified.
39.—(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 hereinafter mentioned and, except when closed as hereinafter mentioned, it shall during business hours (subject to such reasonable
Power to divide shares into shares of smaller amount.
30 & 31 Vict. c. 131 s. 21.
Special resolution to be embodied in memorandum of association.
16. s. 22.
Prohibition of entry of trust on register.
25 & 26 Vict. c. 89 s. 30.
Register of transfer at request of transferor.
30 & 31 Vict. c. 131 s. 26.
Certificate of shares or stock.
25 & 26 Vict. c. 89 s. 31.
Inspection of register.