19 Transmission of shares by other means than transfer to be authenticated by a declaration.U.K.
If the interest in any share have become transmitted in consequence of the death or bankruptcy or insolvency of any shareholder, F1. . . or by any other lawful means than by a transfer according to the provisions of this or the special Act, such transmission shall be authenticated by a declaration in writing as herein-after mentioned, or in such other manner as the directors shall require; and every such declaration shall state the manner in which and the party to whom such share shall have been so transmitted, and shall be made and signed by some credible person before a sheriff or justice; and such declaration shall be left with the secretary, and thereupon he shall enter the name of the person entitled under such transmission in the register of shareholders; and for every such entry the company may demand any sum not exceeding the prescribed amount, and where no amount shall be prescribed then not exceeding [F225p]; and until such transmission has been so authenticated no person claiming by virtue of any such transmission shall be entitled to receive any share of the profits of the undertaking, nor to vote in respect of any such share as the holder thereof.
Textual Amendments
F1Words in s. 19 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. V Group1
F2Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)