Transfer of shares

TRANSFER OF SHARES:

The shares of a member in a company are movable property, tranferable in amanner prescribed in the act and the articles of the company

The board of directers to assume powers under the articles of associationto refuse registration of transfer of shares with out assigning any reason. however, a provision has been provided for an appeal against such a refusal to the company law board .

LIEN OF SHARES:

'Lien' means a right to retained possision of some property of another untill some claim attaching to it is settled. the right of a lien on shares is not confered on acomapny by the statuete. it must be clearly provided for in the articles. a company has first and paramount lien on all shares for amounts payables on the shares or for any amounts due from any shareholders to the company capacityas acustomerassets recevables by the shareholders upon winding up.


LEGAL PROVISIONS RELATING TO CALLS:

1.Resolution of the board.

2.bona fide and for the benifit of a company.

3.uniform basis.

4.calls in advance.5.in accordence with the articles,amount,place, and time of payment.