2090
No. 58 of 1911.
COMPANIES.
Notice to company keeping a local register without licence and proceedings thereon.
(8) In relation to stamp duties the following provisions shall have effect:
(a) an instrument of transfer of a share registered in a local register under this Ordinance, shall, unless executed within the Colony, be exempt from stamp duty;
(b) the share or other interest of a deceased member registered in a local register under this Ordinance shall, as far as relates to Colonial probate duty, not be deemed to be part of his estate and effects situated in the Colony for or in respect of which probate or letters of administration is or are to be granted or whereof an inventory is to be exhibited and recorded;
(c) subject to the provisions of this Ordinance, any company may, by its regulations as originally framed, or as altered by special resolution, make such provisions as it may think fit respecting the keeping of local registers.
36.—(1) When the Registrar has reasonable cause to believe that a company is keeping, in any place where it transacts business outside the Colony, a register of members without having a valid licence under this Ordinance, he shall publish in the Gazette and send to the company a notice that at the expiration of 2 months from the date of such notice the name of the company mentioned therein will, unless cause to the contrary be shown, be struck off the register and the company will be dissolved.
(2) At the expiration of the time mentioned in the notice the Registrar may, unless cause to the contrary is previously shown by the company, strike the name of the company off the register and shall publish notice thereof in the Gazette, and on such publication the company whose name is so struck off shall be dissolved: Provided that the liability, if any, of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
(3) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursuance of this section, the company or member may apply to the Court, and the Court, if it be satisfied that it is just to do so, may order the name of the company to be restored to the register, and thereupon the company shall be deemed to have continued in existence as if the name had never been struck off: and the Court may, by the order, give such directions and make such provisions as seem
2090
No. 58 of 1911.
COMPANIES.
Notice to
company keeping a local register
without licence and proceedings thereon.
(8) In relation to stamp duties the following provisions shall have effect:
(a) an instrument of transfer of a share registered in a local register under this Ordinance, shall, unless executed within the Colony, be exempt from stamp duty;
(b) the share or other interest of a deceased member registered in a local register under this Ordinance shall as far as relates to Colonial probate duty not be deemed to be part of his estate and effects situated in the Colony for or in respect of which probate or letters of administration is or are to be granted or whereof an inventory is to be exhibited and recorded;
(c) subject to the provisions of this Ordinance, any company may by its regulations as originally framed, or as altered by special resolution, make such provisions as it may think fit respecting the keeping of local registers.
36.—(1) When the Registrar has reasonable cause to believe that a company is keeping in any place where it transacts business out- side the Colony a register of members without having a valid licence under this Ordinance, he shall publish in the Gazette and send to the company a notice that at the expiration of 2 months from the date of such notice the name of the company mentioned therein will, unless cause to the contrary be shown, be struck off the register and the company will be dissolved.
(2) At the expiration of the time mentioned in the notice the Registrar may, unless cause to the contrary is previously shown by the company, strike the name of the company off the register and shall publish notice thereof in the Gazette, and on such publication the company whose name is so struck off shall be dissolved: Pro- vided that the liability, if any, of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
(3) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pur- suance of this section, the company or member may apply to the Court, and the Court, if it be satisfied that it is just to do so, may order the name of the company to be restored to the register, and thereupon the company shall be deemed to have continued in exist- ence as if the name had never been struck off: and the Court may, by the order, give such directions and make such provisions as seem
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