Companies. [Ch. 31. No. 1.

 

(2) Each share in a company having a share capital
shall be distinguished by its appropriate number.

65. Notwithstanding anything in the articles of a com-
pany, it shall not be lawful for the company to register a
transfer of shares in or debentures of the company unless a
proper instrument of transfer has been delivered to the
company:

Provided that nothing in this section shall prejudice any
power of the company to register as shareholder or deben-
ture holder any person to whom the right to any shares in or
debentures of the company has been transmitted by
operation of law.

66. A transfer of the share or other interest of a deceased
member of a company made by his personal representative
shall, although the personal representative is not himself a
member of the company, be as valid as if he had been such
a member at the time of the execution of the instrument of
transfer.

67. On the application of the transferor of any share or
interest in a company, the company shall enter in its
register of members the name of the transferee in the same
manner and subject to the same conditions as if the appli-
cation for the entry were made by the transferee.

68. (1) If a company refuses to register a transfer of any
shares or debentures, the company shall, within three
months after the date on which the transfer was lodged with
the company, send to the transferee notice of the refusal.

(2) If default is made in complying with this section,
the company and every director, manager, secretary or
other officer of the company who is knowingly a party to
the default shall be liable to a fine of twenty-five dollars
for every day during which the default continues.

69. (1) Every company shall, within two months after
the allotment of any of its shares, debentures, or debenture
stock, and within three months after the date on which a
transfer of any such shares, debentures, or debenture
stock, is lodged with the company, complete and have ready

377

Transfer not
to be regis-
tered except
on produc-
tion of
instrument
of transfer.

Transfer by
personal
represen-
tative.

Registration
of transfer
at request of
transferor.

Notice of
refusal to
register
transfer.

Duties of
company
with respect
to issue of
certificates.