Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. Transfer and transmission of shares

Collection:: Economics Books

Powers of Attorney. Registration of Transfers. 74 SECRETARIAL PRACTICE practice of auditors to enface the certificates with a small rubber stamp or some other distinctive mark, and the clerk responsible for the certification of the transfer should be careful to see that the certificate lodged with the transfer bears such mark, and is. therefore, prima facie genuine. As regards Powers of Attorney the general law is dis- cussed in Chapter XXI, but the practice in connection with transfers may here be conveniently dealt with. The signature on a transfer, whether that of the transferor or the transferee, may be affixed by an attorney, or agent. In such cases it becomes the duty of the secretary to satisfy himself that the authority of the attorney is properly constituted. Where the transferor has executed the transfer by attorney, the matter should be dealt with upon presentation of the transfer for certification, but when the transfer is lodged for registration, reference should again be made to the records of powers of in order to make sure that no notice of revocation or death has been received since the transfer was certified. If the transferee has done so, it is upon lodgment of the transfer for registration that the matter will arise. If the power of attorney has already been lodged for registration at the company’s office, particulars of it will appear in the company’s register of powers of attorney, i.e. the date of registration, the names of the donor and donee of the power, and some particulars of its scope and duration. These can then be referred to, and unless there is any doubt as to whether the power is still in force, the transfer may be accepted. If the power is presented for the first time upon a transfer being lodged for certification or registration, it must be carefully inspected in order to see that it is under seal, that it is properly stamped, executed and attested, that it authorises the transaction sought to be effected, whether the sale or purchase of shares, and whether of the particular shares in question, and that it is still effective. If the power of attorney is executed by a corporation, it should be borne in mind that s. 74 (1) of the Law of Property Act, 1925, only operates in favour of a purchaser as defined by s. 205 of the Act, i.e. ‘a purchaser in good faith and for valuable consideration’ including a lessee, mortgagee or other person who for valuable consideration acquires an interest in property.’ On the execution of the transfer by the transferee, it is lodged with the company for registration. The depositing broker or agent should be asked to write or stamp his name and address on the back of the transfer, and the secretary should give a printed form of receipt to the effect that the

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