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 X. Share warrants

Collection:: Economics Books

SHARE WARRANTS 115 or guarantee society, and only then after most exhaustive investigation and proof that it has been lost beyond recovery. Condition 14 gives the form of the certificate to be delivered to anyone depositing warrants in accordance with Condition 13, and forms of this certificate may, when printed, be bound in book form with a counterfoil to each (see Form 41). The issue of this certificate requires to be carefully controlled and each form should bear a separate folio number. As a safe- guard in the use of this form the following words should always be added at the foot, viz.: ‘Importani—The warrants named herein will be delivered only in exchange for this certificate, which must be carefully preserved.’ Subject to the articles of association the fees referred to Fees. in Conditions 5, 12 and 16 may be fixed by the Board. A specimen form of application for share warrants is given in Form 42, and upon such a form being completed and handed in to the company’s office together with the share certificates and fees payable, the company would issue a receipt (see Form 43). In recording the issue of share warrants three types of registers are usually required as follows: (1) Particulars of share warrant applications received and details of the warrants issued in respect thereof ‘see Form 46). (2) Particulars of applications received for the ex- change of warrants into registered shares, giving details of the warrants surrendered (see Form 47), and (3) The serial number of every warrant printed with columns in which to enter the distinctive share numbers inserted on the warrants (see Form 48). In addition to the foregoing a stock book should be kept Stock Book. recording all the warrants printed and a summary of all warrants issued, so that at any time it may be possible to ascertain full details of the warrants remaining in stock. Before execution of a warrant, stamp duty thereon must be paid by means of an impressed stamp at three times the ad valorem duty payable upon transfers of shares, that is to say, at the rate of £3 per cent. on warrants issued on and after 1st September, 1920, the duty being calculated upon the nominal value of the shares or stock comprised in the warrant (Stamp Act, 1891, Schedule 1, Section 1). The stamp duty must be impressed before the warrant is executed. it is provided by the Stamp Act, 1891 (s. 107) that any person who, at the time when a share warrant is issued Stamp Duty.

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