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The Pamphlet Collection of Sir Robert Stout: Volume 88
Transfer of Shares
Transfer of Shares.
12. The instrument of transfer of any share in the Company shall be executed both by the transferor and the transferee, and the transferor shall be deemed to remain the holder of such share until the name of the transferee is entered in the Register in respect thereof.
of in consideration of the sum of paid to me by of do hereby transfer to the said, shares numbered in The West Wanganui Coal Company, Limited, standing in my name in the books of the Company subject to the Regulations of the Company and to the several conditions on which I hold the same at the time of the execution hereof And I the said do hereby agree to take the said shares subject to the Regulations and conditions aforesaid As witness our hands the day of
14. The Directors may decline to register any transfer of shares made by a Shareholder who is indebted to the Company.
15. The Directors may refuse to register the transfer of a share, the registered owner whereof, or his estate, either alone or jointly with any other person or estate, is indebted to the Company for any call or instalment, or interest, or other charge thereon, notwithstanding the amount may not be then due or immediately recoverable; or if the transferee fail to produce to and leave with the secretary, manager, or other officer appointed by the Directors, the certificate of the share, if required so to do ; or if the Directors consider
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the proposed transferee to be an irresponsible person, or (without assigning any reason) object to admit him as a member. And no transfer of a share shall be made to any person who shall not be approved of by the Directors, who shall have absolute discretion, not controllable by any court of law or equity, as to accepting or rejecting the transferee, and shall not be bound to give any reason for rejecting him.
16. Every shareholder shall be entitled to a certificate under the common seal of the Company, specifying the share or shares held by him and the amount paid up thereon; and upon any transfer of shares the sum of one shilling for any number of shares up to twenty-five shares and a further sum of one shilling for every twenty-five shares or any lesser number than twenty-five shares shall be payable to the Company.
17. If such certificate be worn out or lost the Directors may issue a new certificate on payment of the sum of two shillings and sixpence for each certificate.
18. The transfer books shall be closed during the six weeks immediately preceding the ordinary general meeting in each year, or for such lesser period as the Directors may from time to time determine.