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

TRANSFER AND TRANSMISSION OF SHARES 67 and the dispatch of the circular consequently achieved in a few hours. Similarly, the dividend sheets may be spread over a larger staff than is possible when reference has to be made to the books for the purpose, while, as stated above, the old-time objection to the use of the card is met by the retention of the full particulars in the share register. Many companies now use an addressing machine which greatly facilitates the work. Other points of advantage in the card system are (a) the facility for keeping the index of names in strict alphabetical order, and (b) after the annual return has been made to Somerset House, the ‘dead’ cards may be taken out and kept separately, thus starting each year with a clean index. We may now proceed to the subject of the transfer of shares. There are five provisions of the Act, dealing with transfers These are set out below: — Right of Transfer. S. 62 (1). The shares or other interest of any member in a company shall be personal estate, transferable in manner provided by the articles of the company, and shall not be of the nature of real estate. S. 63. Notwithstanding anything in the articles of a com- pany, it shall not be lawful for the company to register a transfer of shares in or debentures of the company unless a proper instrument of transfer has been delivered to the company: provided that nothing in this section shall prejudice any power of the company to register as shareholder or debenture holder any person to whom the right to any shares in or debentures of the company has been transmitted by operation of law. S. 64. A transfer of the share or other interest of a deceased member of a company made by his personal represen- tative shall, although the personal representative is not himself a member of the company, be as valid as if he had been such a member at the time of the execution of the instrument of transfer. S. 65. On the application of the transferor of any share or interest in a company the company shall enter in its register of members the name of the transferee in the same manner and subject to the same conditions as if the application for the entry were made by the trans- feree. S. 66. (1). If a company refuses to register a transfer of anv shares or debentures, the company shall, within

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