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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 20

Company not bound to regard trusts.

20. The company shall not be bound to see to the execution of any trust,
whether express, implied, or constructive, to which any of the said shares may
be subject; and the receipt of the party in whose name any such shares shall
stand in the books of the company, or if it stands in the names of more
parties than one the receipt of one of the parties named in the
register of shareholders, shall from time to time be a sufficient discharge to
the company for any dividend or other sum of money payable in respect of such
share, notwithstanding any trusts to which such share may then be subject, and
whether or not the company have had notice of such trusts; and the company
shall not be bound to see to the application of the money paid upon such
receipt.

And with respect to the payment of subscriptions and the means of enforcing
the payment of calls:

© 1845 Crown Copyright

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