COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 80 Duties of company with respect to issue of certificates.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 80

Duties of company with respect to issue of certificates.

80.(1) Every company shall, within two months after the allotment of any of
its shares, debentures or debenture stock and within two months after the date
on which a transfer of any such shares, debentures or debenture stock is
lodged with the company, complete and have ready for delivery the certificates
of all shares, the debentures and the certificates of all debenture stock
allotted or transferred, unless the conditions of issue of the shares,
debentures or debenture stock otherwise provide [or unless the allotment or
transfer is to a stock exchange nominee].

For the purpose of this sub-section "transfer" means a transfer duly stamped
and otherwise valid, and does not include such a transfer as the company is
for any reason entitled to refuse to register and does not register [and
"stock exchange nominee" means any person whom the Department designates by
order as a nominee of The Stock Exchange for the purposes of this section].

(2) If default is made in complying with this section, the company and every
officer of the company who is in default shall be liable to a default fine.

(3) If any company on whom a notice has been served requiring the company to
make good any default in complying with sub-section (1) fails to make good the
default within ten days after the service of the notice, the court may, on the
application of the person entitled to have the certificates or the debentures
delivered to him, make an order directing the company and any officer of
the company to make good the default within such time as may be specified in
the order, and any such order may provide that all costs of and incidental to
the application shall be borne by the company or by any officer of the company
responsible for the default.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 80