RE: Website Update28 Jul 2022 21:53
Denzal,
The instrument of transfer, if any, must be signed by or on behalf of the transferor and, in the case of a partly paid share, by or on behalf of the transferee. The transferor will be deemed to remain the holder of the share until the name of the transferee is entered in the Register of Members in respect of it.
The Directors may in their absolute discretion refuse to register any transfer of shares when the Company, or the Members of the Company, in general, are, in the opinion of the Board, likely to suffer a legal, regulatory, tax, pecuniary or material administrative disadvantage or where the holding of shares in the Company by any person is in breach of the law or requirements of any country or government.
44. Subject to and in addition to Article 43 the Directors may, in their absolute discretion and without giving any reason, refuse to register any transfer of shares unless:
(a) it is in respect of a fully paid share;
(b) it is duly stamped, is deposited at the office or such other place as the Directors may appoint and is accompanied by the certificate, for the shares to which it relates and such other evidence as the Directors may reasonably require to show the right of the transferor to make the transfer;
(c) it is in respect of only one class of share;
(d) it is in favour of not more than four transferees except in the case of executors or
trustees of a deceased Member; and
(e) it is in respect of a share on which the Company does not have a lien in respect of which the Company has served a notice pursuant to Article 14.