CAP. 70]
[r. 49 cont.]
which calls have been made.
Transmission of registered shares;
survivorship
in joint holder.
Transmission
clause; evidence of title.
Delegation
of board's authority to deal with transfers on local registers.
Form of transfer:
The Hongkong and Shanghai Banking Corporation.
on that share, and all other calls (if any) due on every other share held by him, and all interest (if any), and all costs and expenses (if any) in respect thereof be paid.
50. The executors or administrators of a deceased shareholder (not being one of several joint holders) shall be the only persons recognized by the bank as having any title to the shares registered in the name of such shareholder, and in case of the death of any one or more of the joint registered holders of any shares the survivors shall be the only persons recognized by the bank as having any title to or interest in such shares.
51. Any person, becoming or claiming to be entitled to shares in consequence of the death or bankruptcy of any shareholder or by any lawful means other than by transfer in accordance with these regulations, shall not have any claim upon the bank in respect of any such shares or of any dividend in respect of the same but may, upon such evidence of title being produced as may from time to time be required by the board and with the consent of the board (which it shall not be under any obligation to give), be registered as a shareholder in respect of such shares or may, with the like consent, elect to have some person nominated by him and approved by the board registered as transferee of such shares. This regulation is hereinafter referred to as the transmission clause.
52. The board may from time to time depute some person or persons, whether jointly or severally, to approve of or refuse to register or to deal with transfers or transmissions on any local register and to direct the registration of approved transfers or transmissions in any such register, and such person or persons may, in respect of transfers or transmissions or other entries proposed to be so registered, exercise all the powers of the board in the same manner and to the same extent and effect as if the board was actually present and was exercising the same.
53. (1) Shares in the bank shall be transferred only by such instrument and in such form as shall from time to time be approved by the board and shall be by instrument in writing. Such instrument shall contain an under-
Page 364
CAP. 70]
[r. 49 cont.]
which calls have been made.
Transmission of registered shares;
survivorship
in joint holder.
Transmission
clause; evidence of title.
Delegation
of board's authority to deal with transfers on local registers.
Form of transfer:
The Hongkong and Shanghai Banking Corporation.
on that share, and all other calls (if any) due on every other share held by him, and all interest (if any), and all costs and expenses (if any) in respect thereof be paid.
50. The executors or administrators of a deceased shareholder (not being one of several joint holders) shall be the only persons recognized by the bank as having any title to the shares registered in the name of such share- holder, and in case of the death of any one or more of the joint registered holders of any shares the survivors shall be the only persons recognized by the bank as having any title to or interest in such shares.
51. Any person, becoming or claiming to be entitled to shares in consequence of the death or bankruptcy of any shareholder or by any lawful means other than by transfer in accordance with these regulations, shall not have any claim upon the bank in respect of any such shares or of any dividend in respect of the same but may, upon such evidence of title being produced as may from time to time be required by the board and with the consent of the board (which it shall not be under any obligation to give), be registered as a shareholder in respect of such shares or may, with the like consent, elect to have some person nominated by him and approved by the board registered as transferee of such shares. This regulation is hereinafter referred to as the transmission clause.
52. The board may from time to time depute some person or persons, whether jointly or severally, to approve of or refuse to register or to deal with transfers or trans- missions on any local register and to direct the registra- tion of approved transfers or transmissions in any such register, and such person or persons may, in respect of transfers or transmissions or other entries proposed to be so registered, exercise all the powers of the board in the same manner and to the same extent and effect as if the board was actually present and was exercising the same.
53. (1) Shares in the bank shall be transferred only by such instrument and in such form as shall from time to time be approved by the board and shall be by instru- ment in writing. Such instrument shall contain an under-
364
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