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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. Share warrants

Collection:: Economics Books

Dividends. Forgery. 118 SECRETARIAL PRACTICE must bear on each one the serial number of the warrant to which they belong. A talon (see Form 40) should be provided for the issue of fresh coupons when the original series is ex- hausted. It is usual for the secretary’s facsimile signature to be printed on the coupons and talon. When a dividend is about to be paid, arrangements should be made for the coupons to be received and paid, usually at the company’s bankers, or at the offices of the company. The exact amount payable on the whole of the shares represented by the share warrants in circulation should be transferred from the general account to Coupon No......, Account with the bankers. It should be noted that shares represented by share warrants cannot be reckoned in the qualification of a director or manager of the company, where such a qualification is required by the articles [s. 141 (2)]. A contract to sell registered shares will not be satisfied by a delivery of share warrants [Iredale v. General Securities Corporation (1916), 33 T.L.R. 67]. S. 2 of the Forgery Act, 1913, details the penalties to which a person will become liable if he forges or otherwise alters any share warrant or coupon with intent to defraud, or falsely and deceitfully personates any owner of a share warrant or coupon. (See also s. 71 of the Companies Act, 1929, as to the penalties for impersonation and s. 72 as to the penalties for forgery and kindred offences in Scotland.) Share warrants are more popular on the continent than in England, the majority of companies issuing warrants being those whose shares are dealt in abroad, and it is not uncom- mon for the terms on the warrants to be printed in two or three languages in parallel columns for the convenience of the foreign holders. Coupon Registers should be kept in which the payment of coupons can be recorded. The coupon listing forms are numbered consecutively and the corresponding number written or stamped against the numbers of the warrants in the coupon registers.

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