15
(3)
The board may also refuse to register any instrument of transfer of a certificated share
unless it is:
(a)
left at the Office, or at such other place as the board may decide, for registration;
(b)
accompanied by the certificate for the shares to be transferred and such other
evidence (if any) as the board may reasonably require to prove the title of the
intending transferor or his right to transfer the shares; and
(c)
in respect of only one class of shares.
(4)
All instruments of transfer which are registered may be retained by the Company, but any
instrument of transfer which the board refuses to register shall (except in any case where
fraud or any other crime involving dishonesty is suspected in relation to such transfer) be
returned to the person presenting it.
20.
Other provisions relating to transfers
(1)
No fee shall be charged for registration of a transfer or other document or instruction
relating to or affecting the title to any share.
(2)
The transferor shall be deemed to remain the holder of the share until the name of the
transferee is entered in the register in respect of the share.
(3)
Subject to the Statutes, the board may refuse to register any transfer unless it is in
respect of only one class of shares.
(4)
Nothing in these articles shall preclude the board from recognising a renunciation of the
allotment of any share by the allottee in favour of some other person.
(5)
Subject to the Statutes, the registration of the transfer of any shares or of any class of
shares may be suspended at such times and for such periods (not exceeding 30 days in
any year) as the board may decide, except that the registration of the transfer of any
shares or class of shares which are for the time being uncertificated shares may only be
suspended as permitted by the Statutes.
(6)
Unless otherwise agreed by the board in any particular case, the maximum number of
persons who may be entered on the register as joint holders of a share is four.
21.
Notice of refusal
If the board refuses to register a transfer of a share it shall, as soon as practicable and in
any event within two months after the date on which the instrument of transfer was lodged
or the Operator-instruction was received, give to the transferee notice of the refusal. The
board shall provide the transferee with such further information about the reasons for the
refusal as the transferee may reasonably request.
TRANSMISSION OF SHARES
22.
Transmission on death
If a member dies, the survivor where the deceased was a joint holder, and his personal
representatives where he was a sole or the only surviving holder, shall be the only person
or persons recognised by the Company as having any title to his shares; but nothing in
these articles shall release the estate of a deceased holder from any liability in respect of
any share held by him solely or jointly.
23.
Election of person entitled by transmission
(1)
Any guardian of an infant member, any
curator bonis
or guardian or other legal
representative of a member under legal disability and any person becoming entitled to a
