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

Evidence of Death. Company Executor. ]8 SECRETARIAL PRACTICE registration of executors; they may not desire, where the shares are not fully paid, to accept the liability of the executors, who may be men of straw, in lieu of the liability of the estate of the deceased, and may prefer to await a substantial transferee. When an executor is, upon a proper request, entered on the register, a fresh certificate should be issued, and the request should be recorded as a transfer. Where an executor or administrator is also beneficially entitled to shares he can, upon a proper request, be placed on the register without any transfer being executed. A form of request by executors, or administrators, to be placed on the register, will be found in Appendix F ‘Form 25). As regards the evidence which should be demanded on death, in the case of the death of a holder in sole account, the production of probate or letters of administration or confirmation as executor should be required; whilst in the case of the death of one holder in joint account, a certificate of death is usually sufficient. A Form of Certificate of Identity, where one is required, will also be found (Form 26). Under s. 69, any document which is by law sufficient evidence of probate or letters of administration or confirmation as executor must be accepted by the company as sufficient evidence of the grant. Upon the death of a holder in joint account, the shares vest, by right of survivorship, in the survivor or survivors. A company is sometimes appointed executor. In such a case, unless it is a trust corporation, it must appoint under its seal a representative, called a syndic, to whom letters of administration with the will annexed will be granted, and these will be produced to the company in which the deceased held shares. In the case of a company being appointed co- executor with individuals, no grant can be made to the syndic unless the individuals have renounced probate, since probate and letters of administration cannot be granted in respect of the same estate. If, however, the company is a trust corporation as defined by the Supreme Court of Judica- ture (Consolidation) Act, 1925 (s. 175) probate will be granted that company in its corporate name pursuant to s. 161 of that Act. In cases where executors are to be noted in the register in their representative capacity, probate should be exhibited, and the register of probates should give the names and addresses of the executors. The common practice of making a note in the register of members that probate has been exhibited, and giving the names of the executors, to

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