(1) The certification by a company of an instrument of transfer of any shares in, or debentures of, the company is to be taken as a representation by the company to any person acting on the faith of the certification that there have been produced to the company such documents as on their face show a prima facie title to the shares or debentures in the transferor named in the instrument.
(2) The certification is not to be taken as a representation that the transferor has any title to the shares or debentures.
(3) Where a person acts on the
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