XIII.—Transfer of Shares.

Any member, on giving notice in writing to the Manager, and on payment of all subscriptions, fines, and arrears then due from such member on all B Investment shares held by him, shall be at liberty to sell or transfer his share or shares, or any of them, on payment of a transfer fee of one shilling for each share. Every transfer shall be countersigned by the Manager, and registered at the Office of the Association.