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The Pamphlet Collection of Sir Robert Stout: Volume 68

Certificate on Sale of Shares

Certificate on Sale of Shares.

35. Upon any sale, in purported exercise of the powers given by Clauses 30 and 33 hereof respectively, the Directors may cause the purchaser's name to be entered in the Register in respect of the shares sold, and the purchaser shall not be bound to see to the regularity of the proceedings, or the application of the purchase money, and after his name has been entered in the Register in respect of such shares, the validity of the sale shall not, as against him, or any person claiming through him, be impeached by the former holder of the shares, or by any other person. And the remedy of any member or person aggrieved by such sale shall be in damages only, and against the Company exclusively.