ORDINANCE No. 1 OF 1877.
Companies.
Share warrants to bearer.
26. In the case of a company limited by shares—the company, if authorized so to do by its regulations as originally framed—or as altered by special resolution, and subject to the provisions of such regulations, may, with respect to any share which is fully paid up, or with respect to stock issue under their common seal a warrant stating that the bearer of the warrant is entitled to the share or shares or stock therein specified, and may provide, by coupons or otherwise, for the payment of the future dividends on the share or shares or stock included in such warrant, hereinafter referred to as a share warrant.
27. A share warrant shall entitle the bearer of such warrant to the shares or stock specified in it, and such shares or stock may be transferred by the delivery of the share warrant.
28. The bearer of a share warrant shall, subject to the regulations of the company, be entitled, on surrendering such warrant for cancellation, to have his name entered as a member in the register of members, and the company shall be responsible for any loss incurred by any person by reason of the company entering in its register of members the 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.
29. 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 the principal 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.
1451
Warrant of limited shares fully paid up may be issued in name of bearer.
[sec. 27.]
Effect of share warrant.
[sec. 28.]
Registration of bearer of a share warrant in the register.
[sec. 29.]
Regulations of the company may make the bearer of a share warrant a member.
[sec. 30.]
Entries in register where share warrant issued.
30. On the issue of a share warrant in respect of any share or stock—the company shall strike out of its register of members the name of the member then entered therein as holding such share or stock as if he had [sec. 31.] ceased to be a member, and shall enter in the register the following particulars:
(1.) The fact of the issue of the warrant.
ORDINANCE No. 1 oF 1877.
Companies.
Share warrants to bearer.
26. In the case of a company limited by shares-the company, if authorized so to do by its regulations as originally framed-or as altered by special resolution, and subject to the provisions of such regulations, may, with respect to any share which is fully paid up, or with respect to stock issue under their common seal a warrant stating that the bearer of the warrant is entitled to the share or shares or stock therein specified, and may provide, by coupons or otherwise, for the payment of the future dividends on the share or shares or stock included in such warrant, hereinafter referred to as a share warrant.
27. A share warrant shall entitle the bearer of such warrant to the shares or stock specified in it, and such shares or stock may be trans- ferred by the delivery of the share warrant.
28. The bearer of a share warrant shall, subject to the regulations of the company, be entitled, on surrendering such warrant for cancellation, to have his name entered as a member in the register of members, and the company shall be responsible for any loss incurred by any person by reason of the company entering in its register of members the 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.
29. 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 the principal 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.
1451
Warrant of limited shares fully paid up may be issued in name of bearer.
[sec. 27.]
Effect of share warrant. [sec. 28.]
tion of bearer of a share warrant in the register.
[sec. 29.]
Regulation of may make the share warrant
the company
bearer of a
a member. [sec. 30.]
Entries in register where share warrant issued.
30. On the issue of a share warrant in
respect of any share or stock --the company shall strike out of its register of members the name of the member then entered therein as holding such share or stock as if he had [sec. 31.] ceased to be a member, and shall enter in the register the following par-
ticulars:
(1.) The fact of the issue of the warrant.
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