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COLONIAL STOCK ACT 1877 - SECT 7

7. The registrar, if so authorised by the government of a colony issuing stock
to which this Act applies, shall on application and payment of the fees and
stamp duty, if any, chargeable in respect of the certificate, grant to a
stockholder a certificate (in this Act called a stock certificate to bearer)
which shall entitle the bearer to the stock therein described, and shall be
transferable by delivery.

There shall be attached to such certificate coupons entitling the bearer of or
person named in the coupons to the dividends on the stock for a limited
period.

Any stock in respect of which a stock certificate to bearer has been so issued
shall, so long as such certificate is outstanding, cease to be dealt with
through the medium of the register.

A coupon so issued shall be deemed to be a cheque on a banker within the
meaning of any law or enactment for the time being in force relating to
cheques other than any enactment relating to stamp duties.

S.8 rep. by 1963 c.22 (NI) s.21 sch.3 Pt.II

© 1877 Crown Copyright

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