155
Transfer Books
when closed.
Company may refuse to Leans
fer.
Title to shares of deceased Shareholders.
Registration of persons entitled to shares in any
by Transfer.
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45.-The Transfer Books shall be closed during the fourteen days immediately preceding the Ordinary Meeting in each year.
46.-THE COMPANY may decline to Register any Transfer of Shares while the Shareholder making the same is either alone or jointly with any other person, indebted to the Company on any account whatsoever, or in case the Transferee is not approved of by the Board,
47.-The Executors or Administrators of a deceased Shareholder shall be the only persons recognised by the Company as having any title to his Shares.
48.-ANY PERSON becoming interested in a Share in consequence of the death, bankruptcy or insolvency of any Shareholder, or the marriage of any female Shareholder, or by any lawful means other than by Transfer in accordance with these presents, may upon producing such evidence as is hereinafter provided, or as the Board may think sufficient, either be registered himself as the holder of the Share or elect to have some person nominated by him and approved of by the Board registered as such holder.
Transfer by such person to his nominee.
Transfer to be
in form in Schedule A.
Instrument of
to be executed-
49.-PROVIDED, nevertheless, that if he shall elect to have his nominee registered he shall testify the election by executing to his nominee an Instrument of transfer of the Share, and until he do so, and until such nominee shall execute such Instrument, he shall not be freed from any liability in respect of the Share.
50.-SHARES in the Company shall be transferred by an Instrument of Transfer in the form contained in Schedule A annexed hereto.
51.-THE Instrument of Transfer of any Share in the Company shall be executed both by the transferor and transferee, and the transferor shall be deemed to remain a holder of such Share until the name of the transferee is entered in the Register Book in respect thereof.
effect thereof.
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52.-EVERY person having acquired Shares by original subscription shall, as to all duties, obligations, claims, and demands upon or against him in respect of such Shares, be considered a Shareholder of the Company from the time of the same Shares being so transferred to him as aforesaid, but as to all profits, rights, privileges, benefits and advantages to arise from the same Shares, no such person shall be considered a Shareholder in respect of the same, until he shall have executed these presents.
Persons acquiring shares by
Original Sub-
scription not to
acquire rights
until
they have
as aforesaid, but
to be liable
nevertheless.
56.-EVERY person in whom any Shares shall vest otherwise than by original Subscription shall as to all such Shares, be considered as a Shareholder from the date of the transfer to him, or from the time of leaving proof of his title to such Shares at the Office of the Company or otherwise prove it to the satisfaction of the Board.
Persons acquiring
in Shares
by original
subscription to
be Shareholders on proof of title
54.-UPON every transfer of Shares, the Certificate or old Certificates held by the former holder or transferor shall be given up to be cancelled and shall forthwith be cancelled accordingly and a new Certificate shall be issued to the new holder in respect of the Shares transferred to him, a new certificate
given up &
a fee of one dollar
payable for and
care.
Certificates so
be
issued,
55.-BEFORE any assignee of a Bankrupt, or of an Insolvent Debtor shall sell or transfer any Shares vested in him in that capacity or receive any Dividend in respect of such Shares and before any executor or administrator of a deceased Shareholder, or any husband of a female Shareholder, shall sell, transfer or assign any Shares vested in him in any such capacity, or any person claiming, or becoming entitled to any Shares by operation of law or otherwise, shall sell or transfer any Share vested
Persons acquiring
shareant to receive
dividends on shares
until after proof
of their title.