| Commentary

16 Transfer of debentures

| Commentary

16 Transfer of debentures

It is always advisable to procure a receipt from the relevant company when a transfer of shares or a debenture is lodged for registration, as this provides evidence of the date on which the application to the company for transfer was made and the whereabouts of the documents. If the company later either refuses or delays registration of the transfer, the date of commencement of the two-month period during which the company has to register the transfer or give the transferee notice of refusal, will be apparent from the date of the receipt1.

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