COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 79 Certification of transfers.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 79

Certification of transfers.

79.(1) The certification by a company of any instrument of transfer of shares
in or debentures of the company shall be taken as a representation by
the company to any person acting on the faith of the certification that there
have been produced to the company such documents as on the face of them show a
prima facie title to the shares or debentures in the transferor named in the
instrument of transfer, but not as a representation that the transferor has
any title to the shares or debentures.

(2) Where any person acts on the faith of a false certification by a company
made negligently, the company shall be under the same liability to him as if
the certification had been made fraudulently.

(3) For the purposes of this section

(a)an instrument of transfer shall be deemed to be certificated if it bears
the words "certificate lodged" or words to the like effect;

(b)the certification of an instrument of transfer shall be deemed to be made
by a company if

(i)the person issuing the instrument is a person authorised to issue
certificated instruments of transfer on the company's behalf; and

(ii)the certification is signed by a person authorised to certificate
transfers on the company's behalf or by any officer or servant either of
the company or of a body corporate so authorised;

(c)a certification shall be deemed to be signed by any person if

(i)it purports to be authenticated by his signature or initials (whether
handwritten or not); and

(ii)it is not shown that the signature or initials was or were placed there
neither by himself nor by any person authorised to use the signature or
initials for the purpose of certificating transfers on the company's behalf.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 79