12.3 SHARE CERTIFICATES
S 51(1) c of the act provides that a securities certificate is proof that the named holder owns the security. Although a share certificate is transferable it is not fully negotiable and the true owner can reclaim his shares.
There are strict requirements as to what is contained on a share certificate. i.e.
· Name of company
· Serial number
· Name of registered holder
· The number and class of shares
· Any restriction on the transfer
· Require 2 signatures secretary or/and director and if not available someone appointed by the director