Full text: Secretarial practice

304 SECRETARIAL PRACTICE 
the provisions of this or the special Act.” The transmission 
is to be authenticated by a declaration in writing of a formal 
character, ‘or in such other manner as the directors shall 
require.’ S. Ig requires the declaration, in the case of trans- 
mission by will or on intestacy to be produced to the secretary, 
together with probate or letters of administration, or an 
official extract therefrom. Upon the declaration being left 
with the secretary, he is to enter the name of the person 
entitled by transmission on the register of shareholders 
s. 18]. It is incorrect and contrary to the Act for any 
mention of a representative capacity to appear on the register 
of a statutory company, or for the company to recognise the 
representative capacity in any way. Upon production of 
probate or letters of administration, the secretary is to make 
an entry of the declaration in the register of transfers. In 
the absence of a declaration, it appears that a form of request 
by the executors or administrators to be entered on the 
register should be required [Buchan’s Case (1879), 4 A.C. 
549; and see Form 25]. The declaration itself, if produced, 
is probably sufficient evidence of a request. 
The practical result of the words, ‘or in such other manner 
as the directors shall require,’ seems to be that the secretary 
of a statutory company in satisfying himself as to the right 
of a representative, shall require the same evidence as is 
required by the secretary of a company under the Companies 
Acts. 
If probate be granted to the attorney of an executor, he 
should be registered as the holder of the stock in his personal 
capacity, without any reference to his capacity as an attorney 
or executor. 
It follows from the fact that a person entitled by trans- 
mission is, upon proper evidence being furnished, entitled 
to be registered, that if an executor or administrator is also 
the beneficiary, he can be registered without a transfer being 
executed. 
Since executors, when entered upon the register, pursuant 
to s. 18, become joint shareholders in their individual capaci- 
ties, a transfer by them must be executed by all the executors 
[Barton v. London & North Western Railway (1889), 24 Q.B.D. 
77]. 
Should the register of a statutory company require to be 
altered in consequence of a change of name, whether by 
marriage, acquisition of title or otherwise, similar evidence 
should be required as in the case of an ordinary limited 
company.
	        
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