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Classification: General
16
(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.
22.
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
23.
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.
24.
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
share in consequence of the death or bankruptcy of a member or of any other event giving
rise to a transmission by operation of law may, on producing such evidence as the board
may require and subject as provided in this article, elect either to be registered himself as
the holder of the share or to have some person nominated by him registered as the holder
of the share.
(2)
If he elects to be registered himself, he shall give notice to the Company to that effect. If
he elects to have another person registered, he shall execute a transfer of the share to
that person or shall execute such other document or take such other action as the board
may require to enable that person to be registered.
(3)
The provisions of these articles relating to the transfer of shares shall apply to the notice
or instrument of transfer or other document or action as if it were a transfer effected by
the person from whom the title by transmission is derived and the event giving rise to
such transmission had not occurred.
25.
Rights of person entitled by transmission
(1)
A person becoming entitled to a share in consequence of a death or bankruptcy or of any
other event giving rise to a transmission by operation of law shall have the right to receive
and give a discharge for any distributions or other moneys payable in respect of the share
and shall have the same rights in relation to the share as he would have if he were the
holder except that, until he becomes the holder, he shall not be entitled to attend or vote
at any general meeting of the Company.
(2)
The board may at any time give notice requiring any such person to elect either to be
registered himself or to transfer the share and, if after 90 days the notice has not been
complied with, the board may withhold payment of all distributions or other moneys
payable in respect of the share until the requirements of the notice have been complied
with.
DISCLOSURE OF INTERESTS IN SHARES
26.
Disclosure of interests in shares