Full text: Secretarial practice

Public 
Trustee. 
Attestation, 
76 
SECRETARIAL PRACTICE 
That the signature of the transferor not only agrees with 
the description entered at the head of the deed, but also, 
if possible, with his signature when previously accepting 
the shares; 
That it is properly witnessed and dated; 
[hat there is no notice in lieu of distringas, or other charge 
upon the stock or shares therein referred to, or anything 
which would otherwise invalidate the transfer; 
And, finally, that the deed is properly stamped. 
Unless the occupations of transferees are known, the annual 
summary cannot be fully made out. A transfer may be 
accepted, although material parts of it are typewritten. If 
the name of the transferee has been altered, or another name 
substituted, the transfer should be refused, unless it is accom- 
panied by a satisfactory written explanation and statement 
that there has been no sub-sale, or a satisfactorv letter of 
indemnity. 
In the case of transfers to a corporate body, the secretary 
should require that the memorandum and articles be lodged 
to show that the corporate body is duly empowered to hold 
shares, and also to show how the seal is to be affixed. Trans- 
fers to a partnership firm as such should not be registered 
[Vagliano Anthracite Collieries (1910), W. N. 187]. 
The Public Trustee, if separate accounts are necessary, 
may be registered with a number, or a letter and number, 
e.g. ‘The Public Trustee, Account No. 3,” or ‘The Public 
Trustee 4; A 40.” Any introduction of a name, e.g. ‘The 
Public Trustee, re John Jones,” would appear to be contrary 
to the provisions of s. 101 of the Act, which forbids notice 
of any trust being entered on the register. 
If a transfer signed by the registered holder is presented 
after the death of the transferor and is in order in every 
detail, the transfer should be accepted for registration. 
But if probate or letters of administration have been registered 
or the company has otherwise received notice of his death, 
the secretary should give notice of the lodgment of the transfer 
to the personal representatives, and a reasonable time should 
be allowed for objection, if any, to be lodged. Naturally, 
if the shares have already been transferred to the executors 
or adminstrators in their personal capacity, the transfer 
should not be accepted. : 
As regards attestation, a transfer executed out of the 
United Kingdom should not be accepted if it is attested by 
anyone other than H.M. consul, a clergyman, justice of the 
peace, or notary public, unless the signature is guaranteed
	        
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