1984 Ed.]
Companies
[CAP. 32
69. (1) If a company refuses to register a transfer of any shares or debentures, the company shall, within 2 months after the date on which the transfer was lodged with the company, send to the transferor and the transferee notice of the refusal. (Amended, 6 of 1984, s. 35)
(1A) Where a company refuses to register any person as a member in respect of shares which have been transmitted to him by operation of law, that person shall be entitled to call on the company to furnish a statement of the reasons for the refusal, and, if the company fails to furnish such statement within a period of 28 days after the request therefor, the company shall, on the expiration of that period, register the transfer forthwith:
Provided that nothing in this subsection shall affect the rights of any member under the articles whereby he is entitled to any rights of pre-emption over, or rights of purchasing, the shares in question. (Added, 6 of 1984, s. 35)
(1B) Where a company refuses to register a transfer of any shares, the transferee may apply to the court to have the transfer registered by the company; and the court may, if it is satisfied that the application is well founded, disallow the refusal and order that the transfer be registered forthwith by the company. (Added, 6 of 1984, s. 35)
(2) If default is made in complying with this section or any order made thereunder, the company and every officer of the company who is in default shall be liable to a default fine. (Replaced, 6 of 1984, s. 35)
73
Notice of refusal to register transfer.
1929 c. 23, s. 66.
transfers. 1948 c. 38. s. 79.
69A. (1) The certification by a company of any instrument of transfer of shares in or debentures of the company shall be taken as a representation by the company to any person acting on the faith of the certification that there have been produced to the company such documents as on the face of them show a prima facie title to the shares or debentures in the transferor named in the instrument of transfer, but not as a representation that the transferor has any title to the shares or debentures.
(2) Where any person acts on the faith of a false certification by a company made negligently, the company shall be under the same liability to him as if the certification had been made fraudulently.
(3) For the purposes of this section-
(a) an instrument of transfer shall be deemed to be certificated if it bears the words "certificate lodged" or words to the like effect;
(b) the certification of an instrument of transfer shall be deemed to be made by a company if-
(i) the person issuing the instrument is a person authorized, or having apparent authority as agent, to issue certificated instruments of transfer on the company's behalf; and
1984 Ed.]
Companies
[CAP. 32
69. (1) If a company refuses to register a transfer of any shares or debentures, the company shall, within 2 months after the date on which the transfer was lodged with the company, send to the transferor and the transferee notice of the refusal. (Amended, 6 of 1984, s. 35)
(1A) Where a company refuses to register any person as a member in respect of shares which have been transmitted to him by operation of law, that person shall be entitled to call on the company to furnish a statement of the reasons for the refusal, and, if the company fails to furnish such statement within a period of 28 days after the request therefor, the company shall, on the expiration of that period, register the transfer forthwith:
Provided that nothing in this subsection shall affect the rights of any member under the articles whereby he is entitled to any rights of pre-emption over, or rights of purchasing, the shares in question. (Added, 6 of 1984, s. 35)
(IB) Where a company refuses to register a transfer of any shares, the transferee may apply to the court to have the transfer registered by the company; and the court may, if it is satisfied that the application is well founded, disallow the refusal and order that the transfer be registered forthwith by the company. (Added, 6 of 1984, s. 35)
(2) If default is made in complying with this section or any order made thereunder, the company and every officer of the com- pany who is in default shall be liable to a default fine. (Replaced, 6 of 1984, s. 35)
73
Notice of refusal to register transfer.
1929 c. 23, s. 66.
transfers. 1948 c. 38. s. 79.
69A. (1) The certification by a company of any instrument of Certification of transfer of shares in or debentures of the company shall be taken as a representation by the company to any person acting on the faith of the certification that there have been produced to the company such documents as on the face of them show a prima facie title to the shares or debentures in the transferor named in the instrument of transfer, but not as a representation that the transferor has any title to the shares or debentures.
(2) Where any person acts on the faith of a false certification by a company made negligently, the company shall be under the same liability to him as if the certification had been made fraudulently.
(3) For the purposes of this section-
(a) an instrument of transfer shall be deemed to be certificated if it bears the words "certificate lodged" or words to the like effect;
(b) the certification of an instrument of transfer shall be
deemed to be made by a company if-
(i) the person issuing the instrument is a person author- ized, or having apparent authority as agent, to issue certificated instruments of transfer on the company's be- half; and
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