STAMP ACT 1832. Transfers of shares.

Te Aroha News, Volume II, Issue 102, 16 May 1885, Page 7

STAMP ACT 1832. Transfers of shares.

Clause 131 (1.; No transfer of any snare or shares of or in the stock or funds of any corporation, company, or society whatever in New Zealand shall Iw registered, recorded, or entered in the hooks of snch corporal ion, company, or society, unless suoli transfer is duly stamped. (2.) Any person registering, recording or entering any auch transfer contrary to this provision shall be liable to a penalty not exceeding one hundred pounds. Clause 132. No instrument of sale or transfer or any share or shares shall be valid, either at law or (Hjnity, unless the name of the purchaser or transferee is written therein in ink at the time of or before execution of the instrument of sale or transfer. Clause 133. If any person executes a sale-note, transfer contract- note, or other instrument of sale or transfer, in any manner or for any purpose whatsoever, unless the name of the purchaser is written therein in ink at the time or before the execution thereof, he shall be liable to a penalty of not Ie3s that twenty pounds or more than one hundred pounds. Clause 134. (I.) If any such instrument is so made or signed it shall be wholly and absolutely void and inoperative, and shall in no case be made Available by the insertion of a uamo or of any other particulars afterwards. | (2.) And the person selling or transferring such share shall net be divested of his interest therein, but shall remain liable thereon as if he had never sold or disposed of the same. (3.) And if such person is a licensed sharebroker, his license shall, on any conviction under this sectiou, be absolu- ; tely forfeited, and he shall not thereafter be qualified to act as a broker, or to have a fresh license issued to him. Clause 135.. No sharebroker, auctioneer, commission agent, or any other person shall be entitled to any brokerage, commission, or any other fee or reward in respect of the sale or transfer of any such share, unless the iustiument of sale or transfer is filled up with all necessary particulars to make it a complete in^tiu men t, and is duly stamped.