This is new.
SECTION 84.
Question proposed : " That Section 84 stand part of the Bill ".
In other words, the company is compelled to act within two months after lodging.
Yes. They can, of course, refuse to register.
Only in certain cases. It is private companies, is it not ?
Any company.
A private company must have power to refuse. A public company may.
Could the Minister say what is the reason for it ? I think I know the reason.
If a company refused to register the transfer it could be a serious matter for the transferee not to receive notice of refusal within a reasonable time.
There is really, I think, another reason. What happens is, if the directors wish to refuse the transfer but are afraid their refusal may be held to be unreasonable, they do nothing and that keeps the transferee out of voting at the meetings of the company for the period in question.
While they do what they want.
While they buy some other shares, or get some other shares, to outvote him and do what they want to do.
Question put and agreed to.