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2D

Certifics

to be
evidence of
title.

Evidence of
grant of
probate.

Issue and
ettect of
share war-
rants to
bearer.

Ch. 31. No. 1.] Compantes.

for delivery the certificates of all shares, the debentures,
and the certificates of all debenture stock allotted or
transferred, unless the conditions of issue of the shares,
debentures, or debenture stock otherwise provide.

The expression transfer — for the purpose of this
subsection means a transfer duly stamped and otherwise
valid, and does not include such a transfer as the company
is for any reason entitled to refuse to register and does not
register.

(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.

(3) If any company on whom a notice has been
served requirmg the company to make good any default
in complying with the provisions of subsection (1) of this
section fails to make good the default within ten days after
the service of the notice, the Court may, on the application
of the person entitled to have the certificates or the deben-
tures delivered to him, make an order directing the company
and any officer of the company to make good the default
within such time as may be specified in the order, and any
such order may provide that all costs of and incidental
to the application shall be borne by the company or by any
officer of the company responsible for the default.

70. A certificate, under the common seal of the company,
specifying any shares held by any member, shall be priméd
facie evidence of the title of the member to the shares.

71. The production to a company of any document which
is by law sufficient evidence of probate of the will, or letters
of administration of the estate, or confirmation as executor,
of a deceased person having been granted to some person
shall be accepted by the company, notwithstanding any-
thing in its articles, as sufficient evidence of the grant.

72. (1) A company limited by shares, if so authorised by
its articles, may, with respect to any fully paid-up shares,
issue under its common seal a warrant stating that the
bearer of the warrant is entitled to the shares therein