| Commentary

178 Certification of transfer

| Commentary

178 Certification of transfer

If a member disposes of only part of his shareholding represented by a share certificate, it would be impossible for both the transferor and transferee to have possession of that certificate. Instead, the share certificate will be lodged with the company together with the transfer for certification. The company will note on the transfer that the certificate has been lodged1. The company will then issue a certificate comprising the shares sold to the transferee and a balance certificate to the transferor. By certifying a transfer instrument, a company is taken as representing to any

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