Section 502 of The Companies Act No. 17 of 2015: Certification of document of transfer of shares or debentures
(1) A certificate issued by a company in relation to a transfer of shares in, or of debentures of, the company is to be taken to be a representation by the company to any person acting on the faith of the certificate that there have been produced to the company such documents as on their face show title to the shares or debentures in the transferor named in the certificate
.(2) The certificate is not in itself a representation that the transferor has any title to the shares or debentures.
(3) If a person acts on the faith of a false certificate issued by a company made negligently, the company is liable to pay damages to the person as if the certificate had been made fraudulently.
(4) For the purposes of this section—
(a) a certificate issued by a company in relation to a transfer is treated as having been made by the company if the certificate is signed by a person authorised to certify transfers on the company's behalf or by an officer or employee either of the company or of a body corporate so authorised; and
(b) a certificate is treated as signed by a person if—
(i) it purports to be authenticated by the person's signature or initials (whether handwritten or not); and
(ii) it is not established that the signature or initials was or were placed there by someone other than that person, or a person authorised to use that person's signature or initials, for the purpose of certifying transfers on the company's behalf.
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- Section 503 - Duty of company as to issue of certificates etc on transfer
(1) A company shall, within two months after the date on which a transfer of any of its shares, debentures or debenture stock is lodged with the company, complete and have ready for delivery—
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(2) In particular, those regulations...
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(2) An offer is not regarded as an offer to the public if it can properly...
- Section 511 - Prohibition of public offers by private companies
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Nothing in this Part affects the validity of an allotment or sale of securities or of an agreement to allot or sell securities.
- Section 516 - Public company: requirement for minimum share capital
(1) A company that is a public company shall not conduct business or exercise a borrowing power unless the Registrar has issued it with a trading certificate under this section.
(2) On receiving an...
- Section 517 - Procedure for obtaining trading certificate
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(2) The Registrar shall refuse such an application if it does not—
(a) state...
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(2) The articles of a...
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(2) The...
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(1) This section applies to a company that holds shares as treasury shares.
(2) The company may not exercise any right in respect of the treasury shares,including any right to attend or vote at...
- Section 529 - Disposal of treasury shares
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(a) sell the shares, or any of them, for a cash consideration; or
(b) transfer the shares, or any of them, for the purposes of or...
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(2) As soon as shares held by a company as treasury shares cease to bequalifying shares, the company shall cancel...
- Section 532 - Treasury shares: notice of cancellation
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(1) This section applies when shares held by a company as treasury shares are sold.
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(1) If—
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(2) Within three days after receiving any such information, the company...
- Section 552 - Register to be kept available for inspection
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(2) If a company...