Cap. 161 Art. 13Transfer of registered stock.

(1) Subject to the provisions of sub-article (3), the title of any stockholder to any registered stock shall not be deemed for the purposes of this Ordinance to be transferred to any other person save upon the execution of such instrument of transfer as may be prescribed and upon the registration of the transferee as the stockholder under article 14.

(2) Interest which has fallen due in respect of any registered stock at the date of any transfer of such stock but which has not been paid to the stockholder for the time being, shall not be deemed to be payable to a transferee of that stock unless the instrument of transfer expressly provides for the payment of that interest to that transferee.

(3) When the Accountant General is satisfied that a stockholder has died he may, subject to the provisions of article 14 (b), cause the stock of the deceased stockholder to be transferred into the name of any person who proves to his satisfaction that he is lawfully entitled to the stock on the death of the stockholder.