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Page 95

CHAPTER 10
SHARES

A SHARE is the interest of a shareholder in the company measured by a sum of money, for the purpose of liability in the first place, and of interest in the second, but also consisting of a series of mutual covenants entered into by all the shareholders on the terms of the articles.' The share is measured by a sum of money, namely, the nominal amount of the share, and also by the rights and obligations belonging to it as defined by the Companies Act and by the memorandum and articles of the company.
Shares are personal estate, transferable in the manner provided by the articles of the company. Each share must be distinguished by its appropriate number, but it need not have a number if all the issued shares or all the issued shares of a particular class are fully paid up and rank pari passu for all purposes (s. 74).

TRANSFER OF SHARES
Every shareholder has a right to transfer his shares, unless the articles provide to the contrary.(2)
By the Companies Acts " it is provided that the shares in a company under these Acts shall be capable of being transferred in manner provided by the regulations of the company. The regulations of the company may impose fetters upon the right of transfer. In the absence of restrictions in the articles the shareholder has by virtue of the statute the right to transfer his shares without the consent of any body to any transferee, even though he be a man of straw, provided it is a bona fide transaction in the sense that it is an out-and-out disposal of the property without retaining any interest in the shares-that the transferor bona fide divests himself of all benefit . . In the absence of restrictions it is competent to a transferor, notwithstanding that the company is in extremis, to compel registration of a transfer to a transferee notwithstanding that the latter is a person not competent to meet the unpaid liability upon the shares. Even if the transfer be executed for the express purpose of relieving the transferor from liability, the directors cannot upon that ground refuse to register it unless there is in the articles some provision so enabling them." (3)
A company may always decline to register a transfer which is not properly stamped .(4)
1 Per Farwell, J., in Borland's Trustee v. Steel Bros., [1901] 1 Ch. 279.
2 Weston's Case (1868), L. R. 4 Ch. 20.
3 Per Buckley, L.J., in Lindlar's Case, [1910] 1 Ch. 312.
4 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121.

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where is HTML where is HEAD where is TITLE A SHARE is what is interest of a shareholder in what is company measured by a sum of money, for what is purpose of liability in what is first place, and of interest in what is second, but also consisting of a series of mutual covenants entered into by all what is shareholders on what is terms of what is articles.' what is share is measured by a sum of money, namely, what is nominal amount of what is share, and also by what is rights and obligations belonging to it as defined by what is Companies Act and by what is memorandum and articles of what is company. Shares are personal estate, transferable in what is manner provided by what is articles of what is company. Each share must be distinguished by its appropriate number, but it need not have a number if all what is issued shares or all what is issued shares of a particular class are fully paid up and rank pari passu for all purposes (s. 74). TRANSFER OF SHARES Every shareholder has a right to transfer his shares, unless what is articles provide to what is contrary.(2) By what is Companies Acts " it is provided that what is shares in a company under these Acts shall be capable of being transferred in manner provided by what is regulations of what is company. what is regulations of what is company may impose fetters upon what is right of transfer. In what is absence of restrictions in what is articles what is shareholder has by virtue of what is statute what is right to transfer his shares without what is consent of any body to any transferee, even though he be a man of straw, provided it is a bona fide transaction in what is sense that it is an out-and-out disposal of what is property without retaining any interest in what is shares-that what is transferor bona fide divests himself of all benefit . . In what is absence of restrictions it is competent to a transferor, notwithstanding that what is company is in extremis, to compel registration of a transfer to a transferee notwithstanding that what is latter is a person not competent to meet what is unpaid liability upon what is shares. Even if what is transfer be executed for what is express purpose of relieving what is transferor from liability, what is directors cannot upon that ground refuse to register it unless there is in what is articles some provision so enabling them." (3) A company may always decline to register a transfer which is not properly stamped .(4) 1 Per Farwell, J., in Borland's Trustee v. Steel Bros., [1901] 1 Ch. 279. 2 Weston's Case (1868), L. R. 4 Ch. 20. 3 Per Buckley, L.J., in Lindlar's Case, [1910] 1 Ch. 312. 4 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 95 where is strong CHAPTER 10 SHARES where is p align="justify" A SHARE is what is interest of a shareholder in what is company measured by a sum of money, for what is purpose of liability in what is first place, and of interest in what is second, but also consisting of a series of mutual covenants entered into by all what is shareholders on what is terms of what is articles.' what is share is measured by a sum of money, namely, what is nominal amount of what is share, and also by what is rights and obligations belonging to it as defined by what is Companies Act and by what is memorandum and articles of what is company. Shares are personal estate, transferable in what is manner provided by what is articles of what is company. Each share must be distinguished by its appropriate number, but it need not have a number if all what is issued shares or all what is issued shares of a particular class are fully paid up and rank pari passu for all purposes (s. 74). TRANSFER OF SHARES Every shareholder has a right to transfer his shares, unless what is articles provide to what is contrary.(2) By what is Companies Acts " it is provided that what is shares in a company under these Acts shall be capable of being transferred in manner provided by what is regulations of what is company. what is regulations of what is company may impose fetters upon what is right of transfer. In what is absence of restrictions in what is articles what is shareholder has by virtue of what is statute what is right to transfer his shares without what is consent of any body to any transferee, even though he be a man of straw, provided it is a bona fide transaction in what is sense that it is an out-and-out disposal of what is property without retaining any interest in what is shares-that what is transferor bona fide divests himself of all benefit . . In what is absence of restrictions it is competent to a transferor, notwithstanding that what is company is in extremis, to compel registration of a transfer to a transferee notwithstanding that what is latter is a person not competent to meet what is unpaid liability upon what is shares. Even if what is transfer be executed for what is express purpose of relieving what is transferor from liability, what is directors cannot upon that ground refuse to register it unless there is in what is articles some provision so enabling them." (3) A company may always decline to register a transfer which is not properly stamped .(4) 1 Per Farwell, J., in Borland's Trustee v. Steel Bros., [1901] 1 Ch. 279. 2 Weston's Case (1868), L. R. 4 Ch. 20. 3 Per Buckley, L.J., in Lindlar's Case, [1910] 1 Ch. 312. 4 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121. where is Server.Execute("_SiteMap.asp") %

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