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Page 99

CHAPTER 10
SHARES

the transfer, they are entitled to make enquiries as to the true consideration and to decline registration until the correct stamp duty is paid. (16)
The stamp duty on transfers is at the rate of £2 per cent. on the price.(17)
A transfer may also be registered at the request of the transferor, in the same manner and subject to the same conditions as if it were applied for by the transferee (s. 77).

Certification of Transfers.-lf a holder of shares sells part only of his holding, e.g., 250 shares out of 1,000, he will be unable to deliver his share certificate to the purchaser. The usual procedure in such a case is, therefore, for the transferor to execute the transfer and send it, with the share certificate, to the company. The secretary then endorses on the transfer the words " certificate lodged " or similar words, and returns the transfer so certificated to the transferor. The transferor hands over this certificated transfer to the transferee against payment of the price, and the transferee executes it and forwards it to the company for registration.
The certification of a transfer is a representation by the company to any person acting on the faith of it that there have been produced to the company such documents as show a pri7na facie title in the transferor, but not a representation that the transferor has any title (s. 79).

Bishop v. Balkis Consolidated Co., Ltd. (1890), 25 Q. B. D. 512. P. transferred his shares to X., and his certificate was lodged by X. with the company. Before registration was completed, P. executed a transfer of some of the same shares to Y., who sold them to B. Y.'s transfer to B. was certificated by the company and, on the strength of this, B. paid Y. The company registered X. and refused to register B. Held, B. had no cause of action against the company, as the certification did not amount to a warranty that the transferor had a title to the shares and did not estop the company from denying the validity of Y.'s title.

If the company fraudulently or negligently makes a false certification it is liable to a person who acts on the faith of it to his detriment. A certification is made by the company if it is made by a person, such as the secretary, authorised to issue certificated transfers on the company's behalf (s. 79 (2)).
When a transfer is certificated the company destroys the original certificate and issues new certificates. But if it negligently returns the

16 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121.
17 Stamp Act, 1891; Finance Act, 1920, s. 36; Finance Act, 1947, s. 52.

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where is HTML where is HEAD where is TITLE the transfer, they are entitled to make enquiries as to what is true consideration and to decline registration until what is correct stamp duty is paid. (16) what is stamp duty on transfers is at what is rate of £2 per cent. on what is price.(17) A transfer may also be registered at what is request of what is transferor, in what is same manner and subject to what is same conditions as if it were applied for by what is transferee (s. 77). Certification of Transfers.-lf a holder of shares sells part only of his holding, e.g., 250 shares out of 1,000, he will be unable to deliver his share certificate to what is purchaser. what is usual procedure in such a case is, therefore, for what is transferor to execute what is transfer and send it, with what is share certificate, to what is company. what is secretary then endorses on what is transfer what is words " certificate lodged " or similar words, and returns what is transfer so certificated to what is transferor. what is transferor hands over this certificated transfer to what is transferee against payment of what is price, and what is transferee executes it and forwards it to what is company for registration. what is certification of a transfer is a representation by what is company to any person acting on what is faith of it that there have been produced to what is company such documents as show a pri7na facie title in what is transferor, but not a representation that what is transferor has any title (s. 79). Bishop v. Balkis Consolidated Co., Ltd. (1890), 25 Q. B. D. 512. P. transferred his shares to X., and his certificate was lodged by X. with what is company. Before registration was completed, P. executed a transfer of some of what is same shares to Y., who sold them to B. Y.'s transfer to B. was certificated by what is company and, on what is strength of this, B. paid Y. what is company registered X. and refused to register B. Held, B. had no cause of action against what is company, as what is certification did not amount to a warranty that what is transferor had a title to what is shares and did not estop what is company from denying what is validity of Y.'s title. If what is company fraudulently or negligently makes a false certification it is liable to a person who acts on what is faith of it to his detriment. A certification is made by what is company if it is made by a person, such as what is secretary, authorised to issue certificated transfers on what is company's behalf (s. 79 (2)). When a transfer is certificated what is company destroys what is original certificate and issues new certificates. But if it negligently returns what is 16 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121. 17 Stamp Act, 1891; Finance Act, 1920, s. 36; Finance Act, 1947, s. 52. 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 99 where is strong CHAPTER 10 SHARES where is p align="justify" the transfer, they are entitled to make enquiries as to what is true consideration and to decline registration until what is correct stamp duty is paid. (16) what is stamp duty on transfers is at what is rate of £2 per cent. on what is price.(17) A transfer may also be registered at what is request of what is transferor, in what is same manner and subject to what is same conditions as if it were applied for by what is transferee (s. 77). Certification of Transfers.-lf a holder of shares sells part only of his holding, e.g., 250 shares out of 1,000, he will be unable to deliver his share certificate to what is purchaser. what is usual procedure in such a case is, therefore, for what is transferor to execute what is transfer and send it, with what is share certificate, to what is company. what is secretary then endorses on what is transfer what is words " certificate lodged " or similar words, and returns what is transfer so certificated to what is transferor. what is transferor hands over this certificated transfer to what is transferee against payment of what is price, and what is transferee executes it and forwards it to what is company for registration. what is certification of a transfer is a representation by what is company to any person acting on what is faith of it that there have been produced to what is company such documents as show a pri7na facie title in what is transferor, but not a representation that what is transferor has any title (s. 79). Bishop v. Balkis Consolidated Co., Ltd. (1890), 25 Q. B. D. 512. P. transferred his shares to X., and his certificate was lodged by X. with what is company. Before registration was completed, P. executed a transfer of some of what is same shares to Y., who sold them to B. Y.'s transfer to B. was certificated by what is company and, on what is strength of this, B. paid Y. what is company registered X. and refused to register B. Held, B. had no cause of action against what is company, as what is certification did not amount to a warranty that what is transferor had a title to what is shares and did not estop what is company from denying what is validity of Y.'s title. If what is company fraudulently or negligently makes a false certification it is liable to a person who acts on what is faith of it to his detriment. A certification is made by what is company if it is made by a person, such as what is secretary, authorised to issue certificated transfers on what is company's behalf (s. 79 (2)). When a transfer is certificated what is company destroys what is original certificate and issues new certificates. But if it negligently returns what is 16 Maynard v. Consolidated Kent Collieries, [1903] 2 K. B. 121. 17 Stamp Act, 1891; Finance Act, 1920, s. 36; Finance Act, 1947, s. 52. where is Server.Execute("_SiteMap.asp") %

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