Compantes, [Ch. 31. No. 1.

(6) the instrument of transfer is accompanied by the certificate of
the shares to which it relate, and such other evidence as the directors
may reasonably require to show the right of the transferor to make
the transfer,

If the directors refuse to register a transfer of any shares, they shall
within two mouths alter the date on which the transfer was lodged with
the company send to the transferee notice of the refusal.

20, The legal personal representatives of a deceased sole holder of
acshare shall be the only persons recognised by the company as having
any title to the share. In the case of a share registered in the names of
two or more holders, the survivors or survivor, or the legal: personal
representutives of the deceased survivor, shall be the only persons
mens by the company as having any title to the share.

Any person becoming entitled te a share in consequence of the
de ath or bankrupte yofa member shall upon such evidence being produced
as may from time to time be properly required by the directors, have the
right, cither to be registered as a member in respect of the share or,
instead of being registered himself, to make such transfer of the share
as the deceased or bankrupt person could have made; but the directors
shall, in etther case, have the same right to decline or suspend registration
as they would have had in the case of a transfer of the share by the
deceased or bankrupt person before the death or bankruptey.

A person becoming entitled to a share by reason of the death or
hankruptey of the holder shall be entitled to the same dividends and other
addvantages to which he would be entitled if he were the registered holder
of the share, except that he shall not, before being registered as a meniber

respeet of Che share, be entitled in respect of tt to exercise any right
conferred by membership in relation to meetings of the company,

Forfetture of share.

Tfa member fails to pay any call or instalment of a call on the day
apgainted for payment thereof, the directors may, at any time thereafter
during such dime as any part of such call or instalment remains unpaid,
serve a notice on him requiring payment of so much of the call or instal-
Ment as is unpaid, together with any interest which may have acerued.

The notice shall name a further day (not earlier than the expiration
of fourteen days from the date of the notice) on or before which the
payment required by the notice is to be made, and shall state that in
the -vent of non-payment at or before the time appointed the shares in
respect of which the call was made will be liable to be forfeited.

25. If the requirements of any such notice as aforesaid are not complied
with, any share in respect of which the notice has been given may at any
time thereafter, before the payment required by the notice has been made,
he forfeited by a resolution of the directors to that effect.

26. A forfeited share may be sold or otherwise disposed of on such terms
and in such manner as the directors think fit, and at any time before a sale