COMPANIES (SALE OF SHARES) ORDINANCE, 1891

COMPANIES (SALE OF SHARES) ORDINANCE, 1891

No. 5 of 1891.

To amend the Law in respect of the Sale of Shares in Joint Stock
Companies. [30th July, 1891.]
WHEREAS it is expedient to make provision for the prevention of
contracts for the sale and purchase of shares and stock in joint
stock companies of which the seller are not possessed or over
which they have no control:

1. The Companies (Sale of Shares) Ordinance, 1891.

2.-(1) Every contract, agreement, and token of sale and
purchase which shall, from and after the 1st October, 1891, be
made or entered into for the sale or or transfer, or purporting to be
for the sale or transfer, of any share or shares or of any stock or
other interest in any joint stock company constituted under or
regulated by the provisions of any Act of Parliament, local Ordi
nance, Royal Charter, or Letters Patent, issuing shares or stock
transferable by any deed or written instrument, shall be null and
void to all intents and purposes whatsoever, unless such contract,
agreement, or token shall set forth and designate in writing such
shares, stock or interest by the respective numbers by which the
same are distinguished at the making of such contract, agreement,
or token on the register or books of such joInt stock company as
aforesaid, or, where there is no such register of shares or stock by
distinguishing numbers, then unless such contract, agreement, or
token shall set forth the person or persons in whose name or names
such shares, stock or interest shall, at the time of making such

t
,~s amended 1) v No. 1 of 1912.
As by ~,c,. 1 o~ IM2 and No. 2 of 11312.
As ainwided by No. 4;3 of 1912 Supp. S(Incl.
As anierided b\ ' No. ~O of 1911, -\,o. 21 of 1912 and No. 43 of 1912
supp. selled.
contract, stand as the registered proprietor thereof in the books of
such joint stock company.
(21) Every person, whether principal, broker, or agent, who
wilfully inserts in any such contract, agreement or token any false
entry of such numbers, or any name or names other than that or
those of the person or persons in wbose name or names such shares,
stock or interest shall stand as aforesaid, shall be liable, on summary
conviction, to a fine not exceedig 200 dollars or to imprisonment
for any term not exceeding 6 months.
Short title. Avoidance of contract for sale and purchase of shares unless numbers of shares are set forth in contract. [cf. 30 & 31 Vict.c. 29 s. 1.]

Short title. Avoidance of contract for sale and purchase of shares unless numbers of shares are set forth in contract. [cf. 30 & 31 Vict.c. 29 s. 1.]

https://oelawhk.lib.hku.hk/items/show/858

1912

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No. 5 of 1891

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