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 79 to register such a person as the holder of the shares [Pool Shipping Co. (1920), 1 Ch. 251]. It therefore appears that to entitle directors to refuse to register such persons, there must be special provision in a company’s articles. Before the closing of the transfer books for dividend purposes, care should be taken that every transfer lodged for registration be passed and registered. Whilst the books are closed, the certification of transfers should proceed as usual, and transfers presented for registration should be accepted and carefully preserved, and there seems no objection to the usual notice as to lodgment of transfer being immediate- ly sent to the transferor; but apart from this the secretary will not deal with any transfers lodged for registration until the books are once more open. The procedure usually followed by the transfer committee or board in checking the transfers and issuing certificates where there is no transfer audit is as follows: — The secretary, having satisfied himself that all the transfers procedure and certificates have been properly and regularly put through of Transter the books, and are in order, reads them over to one of the Committee. directors for comparison with the new certificates, while at the same time another director or one of the clerks sees that the names of the transferor and transferee, the number of shares or amount of stock transferred, and the number of the new certificates issued, with distinctive numbers in the case of shares, agree with the particulars as read out by the secretary and as entered on the certificate, and that a certificate corresponding thereto has been cancelled. The new certifi- cates are then dated, signed, and sealed, and checked with the entry in the seal book and agenda. They are then ready for issue in exchange for transfer receipts, &c. As soon as the directors have passed the transfers they should be posted into the Share Register. As the deeds represent the titles of the transferees they must be kept in a place of absolute safety. and retained by the company in perpetuity. In the event of a duplicate certificate having been issued in exchange for an indemnity in respect of a lost, mislaid, or destroyed original certificate, it will be necessary to see that the duplicate certificate is the one lodged with the transfer and not the original; and should the latter be lodged, to communicate with the transferor to ascertain the reason why he is dealing with the original and not the duplicate. Should a certified transfer be lost, the company should, hefore certifving a duplicate transfer, reauire an indemnity

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