78
CAP. 32]
Companies
[1984 Ed.
し
Evidence of grant of probate.
1929 c. 23. s. 69.
Issue and effect of share warrants to bearer.
1929 c. 23, s. 70.
chased from him by a bona fide purchaser, be liable in damages to the claimant for the value of the shares so purchased as at the date of purchase;
(iii) the person to whom the new certificate is issued and any other person (other than a bona fide purchaser) whose name is subsequently entered in the register of members of the company in respect of the relevant shares or any of them shall, where the relevant shares or any of them are purchased from such other person by a bona fide purchaser, be jointly and severally liable in damages to the claimant for the value of the shares so purchased as at the date of purchase.
(11) All expenses relating to an application under this section for the issue of a new certificate or the cancellation of an original certificate by any company shall be borne by the applicant, and the company may refuse to take any step in respect of the application until it is satisfied that reasonable provision for the payment of such expenses has been made.
(12) In this section-
"bona fide purchaser”, in relation to any relevant shares, means any
of the following-
(a) a person who purchases such shares in good faith for value and without notice of any defect in the title of the seller; (b) a person who becomes entitled to such shares at any time after the purchase thereof by any other person in good faith for value and without notice of any defect in the title of the seller;
"company" means a company in the case of which shares are listed
on a recognized stock exchange;
"new certificate" means a certificate issued under this section in
replacement of an original certificate;
"registered holder", in relation to shares in a company, means any person whose name is entered in the register of members of that company in respect of such shares.
(Added, 69 of 1979, s. 2)
72. The production to a company of any document which is by law sufficient evidence of probate of the will, or letters of administration of the estate of a deceased person having been granted to some person shall be accepted by the company, notwithstanding anything in its articles, as sufficient evidence of the grant.
(Amended, 6 of 1984, s. 39)
73. (1) A company limited by shares, if so authorized by its articles, may, with respect to any fully paid-up shares, issue under its common seal a warrant stating that the bearer of the warrant is entitled to the shares therein specified, and may provide, by coupons or otherwise, for the payment of the future dividends on the shares included in the warrant.
78
CAP. 32]
Companies
[1984 Ed.
し
Evidence of grant of probate.
1929 c. 23. s. 69.
Issue and effect of share warrants to bearer.
1929 c. 23, s. 70.
chased from him by a bona fide purchaser, be liable in damages to the claimant for the value of the shares so purchased as at the date of purchase;
(iii) the person to whom the new certificate is issued and any other person (other than a bona fide purchaser) whose name is subsequently entered in the register of members of the company in respect of the relevant shares or any of them shall, where the relevant shares or any of them are purchased from such other person by a bona fide purchaser, be jointly and severally liable in damages to the claimant for the value of the shares so purchased as at the date of purchase.
(11) All expenses relating to an application under this section for the issue of a new certificate or the cancellation of an original certificate by any company shall be borne by the applicant, and the company may refuse to take any step in respect of the application until it is satisfied that reasonable provision for the payment of such expenses has been made.
(12) In this section-
"bona fide purchaser”, in relation to any relevant shares, means any
of the following-
(a) a person who purchases such shares in good faith for value and without notice of any defect in the title of the seller; (b) a person who becomes entitled to such shares at any time after the purchase thereof by any other person in good faith for value and without notice of any defect in the title of the seller;
"company" means a company in the case of which shares are listed
on a recognized stock exchange;
"new certificate" means a certificate issued under this section in
replacement of an original certificate;
"registered holder", in relation to shares in a company, means any person whose name is entered in the register of members of that company in respect of such shares.
(Added, 69 of 1979, s. 2)
72. The production to a company of any document which is by law sufficient evidence of probate of the will, or letters of administra- tion of the estate of a deceased person having been granted to some person shall be accepted by the company, notwithstanding anything in its articles, as sufficient evidence of the grant.
(Amended, 6 of 1984, s. 39)
73. (1) A company limited by shares, if so authorized by its articles, may, with respect to any fully paid-up shares, issue under its common seal a warrant stating that the bearer of the warrant is entitled to the shares therein specified, and may provide, by coupons or otherwise, for the payment of the future dividends on the shares included in the warrant.
C
No comments yet.
Private notes are available after approval.