A.D. 1865.]
COMPANIES.
PART II.
[No. 1.
57
DISTRIBUTION OF CAPITAL AND LIABILITY OF MEMBERS.
Distribution of Capital.
Nature of interest of member.
28. The shares or other interest of any member in a company under this Ordinance shall be personal estate, capable of being transferred in manner provided by the regulations of the company, and shall not be of the nature of real estate, and each share shall, in the case of a company having a capital divided into shares, be distinguished by its appropriate number.
c. 89 s. 22. 25 & 26 Vict.
Definition of member. Ib. s. 23.
27.-(1.) The subscribers to the memorandum of association of any company under this Ordinance shall be deemed to have agreed to become members of the company whose memorandum they have subscribed, and on the registration of the company shall be entered as members on the register of members hereinafter mentioned.
(2.) Every other person who agrees to become a member of a company under this Ordinance, and whose name is entered on the register of members, shall be deemed to be a member of the company.
28. Any transfer of the share or other interest of a deceased member of a company under this Ordinance, made by his personal representative, shall, notwithstanding such personal representative may not himself be a member, be of the same validity as if he had been a member at the time of the execution of the instrument of transfer.
Transfer of interest of deceased member by personal representative. Ib. s. 24.
29.-(1.) Every company under this Ordinance shall cause to be kept in one or more books a register of its members, and there shall be entered therein the following particulars; that is to say,-
(a.) the names and addresses, and the occupations, if any, of the members of the company, with the addition, in the case of a company having a capital divided into shares, of a statement of the shares held by each member, distinguishing each share by its number, and of the amount paid or agreed to be considered as paid on the shares of each member;
(b.) the date at which the name of any person was entered in the register as a member; and
(c.) the date at which any person ceased to be a member.
(2.) Any company acting in contravention of this section shall be liable to a penalty not exceeding one hundred dollars for every day during which its default in complying with the provisions of this section continues; and every director or manager of the company who knowingly and wilfully authorizes or permits such contravention shall be liable to the like penalty.
Keeping of register of members. Ib. s. 25.
30. (1.) Every company under this Ordinance having a capital
Annual list
Page 10
Page 11
A.D. 1865.]
COMPANIES.
PART II.
[No. 1.
57
DISTRIBUTION OF CAPITAL AND LIABILITY OF MEMBERS.
Distribution of Capital.
Nature of
interest of
28. The shares or other interest of any member in a company under this Ordinance shall be personal estate, capable of being transferred in member in manner provided by the regulations of the company, and shall not be of the nature of real estate, and each share shall, in the case of a com- pany having a capital divided into shares, be distinguished by its appro- priate number.
company. c. 89 s. 22.
25 & 26 Tict.
Definition
of member. Ib. s.
27.-(1.) The subscribers to the memorandum of association of any company under this Ordinance shall be deemed to have agreed to be- .. 23. come members of the company whose memorandum they have subscrib- · ed, and on the registration of the company shall be entered as members on the register of members hereinafter mentioned.
(2.) Every other person who agrees to become a member of a com- pany under this Ordinance, and whose name is entered on the register of members, shall be deemed to be a member of the company.
interest of
28. Any transfer of the share or other interest of a deceased mem- Transfer of ber of a company under this Ordinance, made by his personal repre- deceased sentative, shall, notwithstanding such personal representative may not himself be a member, be of the same validity as if he had been a mem- ber at the time of the execution of the instrument of transfer.
29.-(1.) Every company under this Ordinance shall cause to be kept in one or more books a register of its members, and there shall be en- tered therein the following particulars; that is to say,-
(a.) the names and addresses, and the occupations, if any, of the members of the company, with the addition, in the case of a company having a capital divided into shares, of a statement of the shares held by each member, distinguishing each share by its number, and of the amount paid or agreed to be considered as paid on the shares of each member;
(b.) the date at which the name of any person was entered in the
register as a member; and
(c.) the date at which any person ceased to be a member. (2.) Any company acting in contravention of this section shall be liable to a penalty not exceeding one hundred dollars for every day during which its default in complying with the provisions of this section continues; and every director or manager of the company who knowingly and wilfully authorizes or permits such contravention shall be liable to the like penalty.
member by personal re- presentative. Tb. s. 24.
Keeping of of members. register
Ib. s. 25.
30. (1.) Every company under this Ordinance having a capital Annual list
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