Share transfer - Registration of ‑ Whether share transfer deeds on which words ‘one thousand nine hundred and seventy’ are printed can be deemed to be good delivery if word ‘seventy’ is cut and in its place ‘eighty’ is written - Companies Law - Letter : No. F. 2/9/SE/78,

Letter : No. F. 2/9/SE/78, issued by Stock Exchange Division, Department of Economic Affairs, dated 26 ‑ 3 ‑ 1980. Subject:- Share transfer - Registration of ‑ Whether share transfer deeds on which words one thousand nine hundred and seventy are printed can be deemed to be good delivery if word seventy is cut and in its place eighty is written A doubt has been raised as to whether the share transfer forms on which the words one thousand nine hundred and seventy are printed can be deemed to be good for delivery in the market if the word seventy is cut and in its place the word eighty is written without the same being countersigned by both the transferor and the transferee. Since there need be no nexus between the first seller in whose name the shares stand registered in the books of the company and the last buyer who would be lodging the shares with the company for transfer in his name and since there could be considerable time‑gap between the dates on which the transferor and the transferee would have signed the share transfer form, the share transfer form wherein the printed word seventy is cut and word eighty is written in its place without the same being authenticated by both the transferor and the transferee, may be deemed as good for delivery in the market provided it is ensured that the change is designed to rectify a printing error and the cases involved are genuine.