Name of company - Publication of – Whether share certificate is an official publication within the meaning of clause (c) - Companies Law - No. 3/73

Circular : No. 3/73 [8/10(147)/72 ‑ CL ‑ V], dated 3 ‑ 2 ‑ 1973. Subject:- Name of company - Publication of Whether share certificate is an official publication within the meaning of clause (c) The question is whether a share certificate is an official publication within the meaning of section 147(1)(c). It will be seen that in terms of section 82, the shares are movable properties transferable in the manner provided in the articles of the company. Section 83 provides that each such share shall be distinguished by its appropriate number. Section 84 provides that a certificate under the common seal of the company specifying any shares held by any member shall be prima facie evidence of the title of the member to such shares. Thus, shares are movable properties transferable in the manner provided in the articles of the company and the share certificates are certificates of title and are movable properties but are not publications in the nature of prospectus, balance sheets, profit and loss accounts, notices and advertisements. The conclusion reached, therefore, is that the share certificate is not an official publication within the meaning of section 147(1)(c).