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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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. Transfer and transmission of shares

Collection:: Economics Books

Certificates. Notice in lieu of Distringas. Ro SECRETARIAL PRACTICE from the transferor. This should, in general be accom- panied by a statutory declaration verifying the loss, and a guarantee by a bank or firm of standing, unless the number of shares proposed to be transferred is small. A suitable form of declaration and indemnity will be found in Appendix F (Form 32). Should a transfer receipt or Balance Receipt be lost, an indemnity similarly guaranteed should be asked for. Great care should be exercised in the preparation of the certificates to see that the number of shares or amount of stock (and in the case of the former, the distinctive numbers) are correctly stated. The address of the holder should be inserted, but not the description, with the exception of courtesy designations, e.g. ‘Reverend,’ ‘Mrs.,” ‘Miss,’ &c. In joint accounts it is usual to give the address of the first- named holder only, unless otherwise provided for in the articles of association; but there is generally a clause in the articles to the effect that in the case of joint accounts all notices will be addressed to the first-named holder, so that the addresses of the second, third, or other holders in joint accounts are, excepting for purposes of identification, not required to be set out in the Index to Share Register, although it is essential that they should always be fully detailed in the register itself in order to comply with s. 95 of the Act. By s. 67 of the Act, companies are required to complete and have ready for delivery the certificates of all shares, the debentures, and the certificates of all debenture stock trans- ferred, within two months after the transfers are lodged for registration, unless the conditions of issue otherwise provide. Under the Act of 1908, the period of two months ran from the date of actual registration, not from the date of lodgment for registration. A failure to comply with this provision exposes the officers of the company to pecuniary penalties and the Court may limit a time for making good the default s. 67 (2) (3)]. The registration of transfers may be prevented by any person interested giving to the company a notice, in the pre- scribed form, requiring it to refrain from registering them, accompanied by an affidavit describing the nature of his interest. Payment of dividends may be restrained likewise by the same procedure. This procedure is in accordance with the Rules of the Supreme Court (see Order 46, R. 4), and its effect is to prevent the company from registering a transfer without giving the person claiming to be interested an oppor- tunity of applying to the Court to restrain the transfer. Upon the transfer being presented for registration, the company must notify the person who has given the notice, and unless

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