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

Issue. Exchange. Annual Return. 116 SECRETARIAL PRACTICE without being duly stamped, is the managing director, secre- tary or other principal officer of the company, shall be liable to a fine of £50. The requirements of the articles of association with regard to the affixing of the seal should be strictly followed in the case of share warrants. On issuing a share warrant, the name of the registered holder must be struck out of the register of members as if he had ceased to be a member, and the following particulars entered therein: (a) The fact of the issue of the warrant. (b) A statement of the shares [or stock] included in the warrant, distinguishing each share by its number. The date of the issue of the warrant [s. 97 (1)]. These requirements may conveniently be carried out by using a rubber stamp, which may be impressed on the right-hand side of the accounts concerned in the register of members, the latter being posted from the entries in the share warrant issue register referred to above, the distinguishing numbers of the shares being entered in the proper columns of the register of mem- bers, as if the shares were being transferred out of the member’s name. In view of the importance of safeguarding issues of war- rants, the applications and cancelled share certificates are sometimes examined by the company’s auditors and the share warrants checked and initialled by them, before sub- mission to the Board for issue and sealing, the auditors giving a certificate that the warrants are in order and duly stamped. When ready for delivery the warrants should be issued in strict accordance with the instructions upon the application, and a form on the lines of Form 42, may be usefully employed for this purpose. The necessity may arise for dealing with applications for the exchange of share warrants of certain denominations for warrants of other denominations, and for this purpose a form similar to Form 50 may be used and the receipt issued by the company upon the lodgment of such an application with the warrants for surrender may be on the lines of Form 43. The only direct information given to the Registrar of Companies regarding the issue of share warrants by a company is contained in the annual return and summary. In the return the issue of share warrants in exchange for

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