[17 
registered shares during the period covered should be treated 
as if the members had transferred the shares since the date 
of the last return. The information required to be stated 
in the summary is set out in s. 108 (3) of the Act and appears 
on the form of summary. 
Subject to the articles of the company the holder of a 
share warrant is entitled, in accordance with s. 97 (2), upon 
surrendering the warrant for cancellation to have his name 
entered as a member in the register of members. The warrant 
must be actually surrendered and cancelled, as otherwise 
the company is responsible for any loss which may be involved. 
[s. 97 (3)]. In dealing with such cases an application form 
for exchanging share warrants for registered shares should 
be required (see Form 49). A form of receipt for this applica- 
tion and for the share warrants deposited in connection 
therewith would be issued by the company (see Form 45), 
and might, in practice, be treated as a transfer receipt in the 
event of the shares being sold before the share certificate is 
ready for delivery. The application for registered shares 
would be entered in the share warrant surrender register 
(Form 47), and the entry posted in due course from there tc 
the holder’s account in the register of members. 
If by the conditions or articles the holder of a share warrant Notices. 
is entitled to receive notice of meetings it is generally provided 
that these may be given by advertisement, the right to 
attend being subject to the warrant having been previously 
deposited at the company’s office or bankers (see Specimen 
Condition, 13 supra). When the annual report and accounts 
with notice of general meeting are printed, a paragraph on 
the following lines may be inserted after the usual notice 
of meeting: 
SHARE WARRANTS 
Surrender. 
“Holders of share warrants are reminded that if they 
wish to attend and vote at the meeting, either personally 
or by proxy, they must, three clear days before the day 
appointed for the meeting, deposit their warrants at the 
registered offices of the company ai 
or at = 
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Tondon 
The payment of dividends [see s. 70 (1)] is provided for 
by means of a series of detachable coupons at the foot of 
the warrant (see Form 40). These coupons should be num- 
bered consecutively, the numbers commencing at the bottom 
right-hand corner in order to facilitate detachment, and they