172 Consideration of transfers by directors

The directors of the company are entitled to take reasonable time for the consideration of a transfer before registering it, even if they are not expressly empowered to do so by the articles. In particular, the directors have a right to consider whether the transfer has been duly stamped. This is because the directors will find themselves in breach of their duties if they register a transfer which subsequently proves to be improperly stamped, as such a transfer is not admissible in evidence1. In considering whether a transfer has been duly stamped,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial