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Transfer by
personal representa- tive.
19 & 20 Geo.
5, c. 23
a. 64.
Registration of transfer at request of trans- feror.
26
66. A transfer of the share or other interest of a deceased member of a company made by his personal representative shall, although the personal representa- tive is not himself a member of the company, be no valid as if he had been such a member at the time of the execution of the instrument of transfer.
67. On the application of the transferor of any share or interest in a company, the company shall enter in its register of members the name of the transferce in the same manner and subject to the
19 & 20 Geo. Bame conditions as if the application for the entry 5, c. 23, were made by the transferee.
3. 65.
Notice of
refusal to
register transfer.
19 & 20 Geo.
5, c. 23, 3. 66.
Duties of
company
68.-(1) If a company refuses to register a transfer of any shares or debentures, the company shall, within two months after the date on which the transfer was lodged with the company, send to the transferee notice of the refusal.
(2) If default is made in complying with this section, the company and every director, manager, secretary or other officer of the company who is knowingly a party to the default shall be liable to a fine not exceeding fifty dollars for every day during which the default continues.
69.-(1) Every company shall, within two months after the allotment of any of its shares, debentures, with respect or debenture stock, and within two months after the date on which a transfer of any such shares,
to issue of certificates.
s. 67.
19 & 20 Geo. debentures, or debenture stock, is lodged with the 5, c. 23,
company, complete and have ready for delivery the certificates of all shares, the debentures, and the certificates of all debenture stock allotted or trans- ferred, unless the conditions of issue of the shares, debentures, or debenture stock otherwise provide.
Ordinance No. 8 of 1921.
Certificate to
The expression "transfer" for the purpose of this subsection means a transfer duly stamped and other- wise valid, and does not include such a transfer as the company is for any reason entitled to refuse to register and does not register.
(2) If default is made in complying with this section, the company and every director, manager. secretary or other officer of the company who is knowingly a party to the default shall be liable to a fine not exceeding fifty dollars for every day during which the default continues.
(8) l any company on whom a notice has been served requiring the company to make good any default in complying with the provisions of subsection (1) of this section fails to make good the default with- in ten days after the service of the notice, the court may, on the application of the person entitled to have the certificates or the debentures delivered to him. make an order directing the company and any officer of the company to make good the default within such time as may be specified in the order, and any such order may provide that all costs of and incidental to the application shall be borne by the company or by any officer of the company responsible for the default.
70. A certificate, under the common seal of the be evidence company, specifying any shares held by any member. of title.
shall be prima facie evidence of the title of the mem- ber to the shares.
19 & 20 Geo.
5, c. 23,
3. 68.
Evidence of
grant of
probate.
19 & 20 Geo.
5, c. 23,
6. 69.
71. The production to a company of any document which is by law sufficient evidence of probate of the will, or letters of administration of the estate, or confirmation as executor, of a deceased person having been granted to some person shall be accepted by the company, notwithstanding anything in its articles as sufficient evidence of the grant.
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share
warrants to bearer.
72. (1) A company limited by shares, if 80 Issue and authorised by its articles, may, with respect to any effect of fully paid-up shares, issue under its common seal a warrant stating that the bearer of the warrant is entitled to the shares therein specified, and may 19 & 20 Geo. provide, by coupons or otherwise, for the payment 5, c. 23, of the future dividends on the shares included in the *. 70. warrant.
(2) Such a warrant as aforesaid is in this Ordinance termed a "share warrant."
(3) A share warrant shall entitle the bearer thereof
to the shares therein specified, and the shares may
be transferred by delivery of the warrant,
73. If any person falsely and deceitfully personates Penalty for personation any owner of any share or interest in any company, of share. or of any share warrant or coupon, issued in pursuance holder. of this Ordinance, and thereby obtains or endeavours 19 & 20 Geo.
to obtain any such share or interest or share warrant 5, a 23,
or coupon, or receives or endeavours to receive any 4. 71. money due to any such owner, as if the offender were the true and lawful owner, he shall be guilty
of felony, and shall on conviction thereof be liable to imprisonment for life.
Special Provisions as to Debentures. 74.-(1) Every register of holders of debentures Right of of a company shall, except when duly closed, be open debenture
shareholders
to the inspection of the registered holder of any such holders and debentures, and of any holder of shares in the to inspect company, but subject to such reasonable restrictions register of as the company may in general meeting impose, so debenture that not less than two hours in each day shall be holders and allowed for inspection.
to have copies of trust deed.
For the purposes of this subsection, a register shall 19 & 20 Geo. be deemed to be duly closed if closed in accordance 5, 2, 23, with provisions contained in the articles or in the 73. debentures or, in the case of debenture stock, in the stock certificates, or in the trust deed or other docu- ment securing the debentures or debenture stock, during such period or periods, not exceeding in the whole thirty days in any year, as may be therein specified.
(2) Every registered holder of debentures and every holder of shares in a company may require a copy of the register of the holders of debentures of the company or any part thereof on payment of twenty- five cents for every hundred words required to be copied.
(3) A copy of any trust deed for securing any issue of debentures shall be forwarded to every holder f any such debentures at his request on payment 'n the case of a printed trust deed of the sum of one dollar or such less sum as may be prescribed by the company, or, where the trust deed has not been printed, on payment of twenty-five cents for every hundred words required to be copied.
(4) If inspection is refused, or a copy is refused or not forwarded, the company and every officer of the company who is in default shall be liable to a fine not exceeding fifty dollars, and further shall be liable to a default fine of twenty dollars.
(5) Where a company is in default as aforesaid. the court may by order compel an immediate inspection of the register or direct that the copies required shall be sent to the person requiring them.
75. A condition contained in any debentures or Perpetual in any deed for securing any debentures, whether debentures.
19 & 20 Geo., issued or executed before or after the commencement 5, c. 23, of this Ordinance shall not be invalid by reason only 8.74
161