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Position of bearer of share warrant as regards membership of company. 30 & 31 Vict. c. 131 s. 30.
Entry to be made in register on issue of share warrant.
No. 1.] THE ORDINANCES OF HONGKONG: [A.D. 1865.
name of any bearer of a share warrant in respect of the shares or stock specified therein without the share warrant being surrendered and cancelled.
48. The bearer of a share warrant may, if the regulations of the company so provide, be deemed to be a member of the company within the meaning of this Ordinance, either to the full extent or for such purposes as may be prescribed by the regulations: Provided that the bearer of a share warrant shall not be qualified in respect of the shares or stock specified in such warrant for being a director or manager of the company in cases where such a qualification is prescribed by the regulations of the company.
49.--(1.) On the issue of a share warrant in respect of any shares or stock, the company shall strike out of its register of members the name of the member then entered therein as holding such shares or stock as if he had ceased to be a member, and shall enter in the register the following particulars :--
(a.) the fact of the issue of the warrant;
(b.) a statement of the shares or stock included in the warrant, distinguishing each share by its number; and
(c.) the date of the issue of the warrant.
(2.) Until the warrant is surrendered, the above particulars shall be deemed to be the particulars which are required by section 29 to be entered in the register of members of a company; and on the surrender of a warrant the date of such surrender shall be entered as if it were the date at which a person ceased to be a member.
50. After the issue by the company of a share warrant, the annual summary required by section 30 shall contain the following particulars :-
(1.) the total amount of shares or stock for which share warrants are outstanding at the date of the summary;
(2.) the total amount of share warrants which have been issued and surrendered respectively since the last summary was made; and
(3.) the number of shares or amount of stock comprised in each warrant.
51. There shall be charged on every share warrant a stamp duty of an amount equal to three times the amount of the ad valorem stamp duty which would be chargeable on a deed transferring the shares or stock specified in the warrant, if the consideration for the transfer were the nominal value of such shares or stock.
52. Every person who, with intent to defraud,-
(1.) forges or alters, or offers, utters, disposes of, or puts off, knowing the same to be forged or altered, any share warrant or coupon, or
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