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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 18

Transmission of shares by other means than transfer to be authenticated by a declaration.

18. If the interest in any share have become transmitted in consequence of the
death or bankruptcy or insolvency of any shareholder, or in consequence of the
marriage of a female shareholder, 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 justice, or before a master or master
extraordinary of the High Court of Chancery; 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 [25p]; 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.

© 1845 Crown Copyright

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