CO129-530-8 Estate Duty Ordinance- 1931- Bill 27-2-1931 - 15-12-1931 — Page 54

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entered on the register, or be

receivable by the Registrar of

Companies." It would seem, therefore,

provision of the

that the new Section 13 (1) of the

^

principal Ordinance, which provides

a

that the shares of which the deceased

was

person at the date of his death

the beneficialbut

but not the registered

owner, shall be transferred by an

on the registers of the appropriate companies

executor into his own name as such

n

executor, is in conflict with the

provisions of the Companies Ordinance;

and if this is so, the new Section 13 (1)

repealed

should be amended or omitted. The

provision does not appear to be

based on the English Acts, and a

registration by an executor of shares in

his own name would make him personally

liable for calls on those shares..

Unless therefore there is some local

reason for the provision, it would

seem