ORDINANCE No. 1 OF 1865.
Companies, &c. (First Schedule.)
(2.) Every member shall, on payment of one dollar, or such less sum as the company in general meeting may prescribe, be entitled to a certificate, under the common seal of the company, specifying the share or shares held by him, and the amount paid up thereon.
(3.) If such certificate is worn out or lost, it may be renewed on payment of one dollar, or such less sum as the company in general meeting may prescribe.
Calls on Shares.
(4.) The directors may from time to time make such calls upon the members in respect of all monies unpaid on their shares as they think fit, provided that twenty-one days' notice at least is given of each call, and each member shall be liable to pay the amount of calls so made to the persons and at the times and places appointed by the directors.
(5.) A call shall be deemed to have been made at the time when the resolution of the directors authorizing such call was passed.
(6.) If the call payable in respect of any share is not paid before or on the day appointed for payment thereof, the holder for the time being of such share shall be liable to pay interest for the same at the rate of twelve dollars per cent. per annum from the day appointed for the payment thereof to the time of the actual payment.
(7.) The directors may, if they think fit, receive from any member willing to advance the same all or any part of the monies due upon the shares held by him beyond the sums actually called for; and upon the monies so paid in advance or so much thereof as from time to time exceeds the amount of the calls then made upon the shares in respect of which such advance has been made, the company may pay interest at such rate as the member paying such sum in advance and the directors agree upon.
Transfers of Shares.
(8.) 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.
(9.) Shares in the company shall be transferred in the following form:—
I, A.B., of
of
in consideration of the sum of
dollars paid to me by C.D.
do hereby transfer to the said C.D. the share [or shares] numbered
standing in my name in the books of the
company, to hold
unto the said C.D., his executors, administrators, and assigns, subject to the several conditions on which I held the same at the time of the execution hereof; and I, the said C.D., do hereby agree to take the said share [or shares] subject to the same conditions. As witness our hands, the day of
186
(10.) The company may decline to register any transfer of shares made by a member who is indebted to them.
ORDINANCE No. 1 OF 1865.
Companies, &c. (First Schedule.)
(2.) Every member shall, on payment of one dollar, or such less sum as the company in general meeting may prescribe, be entitled to a certificate, under the common seal of the company, specifying the share or shares held by him, and the amount paid up thereon.
(3.) If such certificate is worn out or lost, it may be renewed on payment of one
dollar, or such less sum as the company in general meeting may prescribe.
/
Calls on Shares.
(4.) The directors may from time to time make such calls upon the members in respect of all monies unpaid on their shares as they think fit, provided that twenty-one days' notice at least is given of each call, and each member shall be liable to pay the amount of calls so made to the persons and at the times and places appointed by the directors.
(5.) A call shall be deemed to have been made at the time when the resolution of
the directors authorizing such call was passed.
(6.) If the call payable in respect of any share is not paid before or on the day appointed for payment thereof, the holder for the time being of such share shall be liable to pay interest for the same at the rate of twelve dollars per cent. per annum from the day appointed for the payment thereof of the time of the actual payment.
(7.) The directors may, if they think fit, receive from any member willing to advance the same all or any part of the monies due upon the shares held by him beyond the sums actually called for; and upon the monies so paid in advance or so much thereof as from time to time exceeds the amount of the calls then made upon the shares in respect of which such advance has been made, the company may pay interest at such rate as the member paying such sum in advance and the directors agree upon.
Transfers of Shores.
(8.) 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.
(9.) Shares in the company shall be transferred in the following form :---
I, A.B., of
of
in consideration of the sum of
dollars paid to me by C.D.
do hereby transfer to the said C.D. the share [or shares] numbered standing in my name in the books of the
company, to hold
unto the said C.D., his executors, administrators, and assigns, subject to the several conditions on which I held the same at the time of the execution hereof; and I, the said C.D., do hereby agree to take the said share [or shares] subject to the same conditions. As witness our hands, the day of
186
(10.) The company may decline to register any transfer of shares made by a member
who is indebted to them.
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