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Colonial Register

registered, colony, kept, company, act and principal

COLONIAL REGISTER. A branch regis ter of members of a company resident in a colony. The Companies (Consolidation) Act, 190S, provides as follows :— Power for Company to keep Colonial Register.

" Section 34. (1) A company having a share capital, whose objects com prise the transaction of business in a colony, may, if so authorised by its articles, cause to be kept in any colony in which it transacts busi ness a branch register of members resident in that colony (in this Act called a colonial register).

(2) The company shall give to the regis trar of companies notice of the situa tion of the office where any colonial register is kept, and of any change in its situation, and of the discon tinuance of the office in the event of its being discontinued.

" (3) For the purpose of the provisions of this Act relating to colonial registers the term ' colony ' includes British India and the Commonwealth of Australia.

Regulations as to Colonial Register.

" 35. (1) A colonial register shall be deemed to be part of the company's register of members (in this and the next following Section called the principal register).

" (2) It shall be kept in the same manner in which the principal register is by this Act required to be kept, except that the advertisement before clos ing the register shall he inserted in some newspaper circulating in the district wherein the colonial register is kept, and that any competent court in the colony may exercise the same jurisdiction of rectifying the register as is under this Act exerciseable by the High Court, and that the offences of refusing inspec tion or copies of a colonial register, and of authorising or permitting the refusal may be prosecuted sum marily before any tribunal in the colony having summary criminal jurisdiction.

" (3) The company shall transmit to its registered office a copy of every entry in its colonial register as soon as may be after the entry is made ; and shall cause to be kept at its registered office, duly entered up from time to time, a duplicate of its colonial register, and the duplicate shall, for all the purposes of this Act, be deemed to be part of the principal register.

" (4) Subject to the provisions of this Section with respect to the duplicate register, the shares registered in a colonial register shall be distin guished from the shares registered in the principal register, and no transaction with respect to any shares registered in a colonial register shall, during the continuance of that registration, be registered in any other register.

" (5) The company may discontinue to keep any colonial register, and thereupon all entries in that register shall be transferred to some other colonial register kept by the com pany in the same colony, or to the principal register.

(6) Subject to the provisions of this Act, any company may, by its articles, make such provisons as it may think fit respecting the keeping of colonial registers.

" Stamp Duties in case of Shares registered in Colonial Registers.

" 36. In relation to stamp duties the following provisions shall have effect : " (a) An instrument of transfer of a share registered in a colonial register shall be deemed to be a transfer of property situate out of the United Kingdom, and, unless executed in any part of the United Kingdom, shall be exempt from British stamp duty ; " (b) On the death of a member registered in a colonial regis ter, the shares of the de ceased member shall, if he died domiciled in the United Kingdom, but not otherwise, be deemed, so far as relates to British duties, to be part of his estate and effects situate in the United King dom for or in respect of which probate or letters of administration is or are to be granted, or whereof an in ventory is to be exhibited and recorded, in like manner as if he were registered in the principal register."