Duties of com-
pany with

respect to issue
of certificates,

SECRETARIAL PRACTICE

(2) If default is made in complying with this section, the
company and every director, manager, secretary or other officer
of the company who is knowingly a party to the default shall be
liable to a fine not exceeding five pounds for every day during which
‘he default continues.

67.—(1) Every company shall, within two months after the
allotment of any of its shares, debentures, or debenture stock, and
within two months after the date on which a transfer of any such
shares, debentures, or debenture stock, is lodged with the company,
complete and have ready for delivery the certificates of all shares,
the debentures, and the certificates of all debenture stock allotted
or transferred, unless the conditions of issue of the shares, deben-
tures, or debenture stock otherwise provide.

The expression ‘transfer’ for the purpose of this subsection
means a transfer duly stamped and otherwise valid, and does not
include such a transfer as the company is for any reason entitled
to refuse to register and does not register.

(2) If default is made in complying with this section, the
company and every director, manager, secretary or other officer
of the company who is knowingly a party to the default shall be
liable to a fine not exceeding five pounds for every day during
which the default continues.

(3) If any company on whom a notice has been served requiring
the company to make good any default in complying with the provi-
sions of subsection (1) of this section fails to make good the default
within ten days after the service of the notice, the court may, on
the application of the person entitled to have the certificates or the
debentures delivered to him, make an order directing the company
and any officer of the company to make good the default within
such time as may be specified in the order, and any such order may
provide that all costs of and incidental to the application shall be
borne by the company or by any officer of the company responsible
for the default.
Certificate to be 08. A certificate, under the common seal of the company, specify-
evidence of title. ing any shares held by any member, shall be primé facie evidence
of the title of the member to the shares.
Evidence of 69. The production to a company of any document which is by

grant of probate. Jaw sufficient evidence of probate of the will, or letters of adminis-
tration of the estate, or confirmation as executor, 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.
Issue and effect ~~ 70.—(I) A company limited by shares, if so authorised by its
of ShaTe WHTTaTIE 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.