Answer
1. Ascertain whether notices were sent in every case to the transferors and in case of join holders to each of the holders and the objections, if and, raised by them were taken into considerations before the transfers were registered.
2. Verify that in the case of partly paid shares where the application for registration was made by the transferor a notice invariably was sent to the transferee and the transfer was registered only when “no objection” has been received from him, within two weeks, from service of notice on him.
3. Scrutinize transfer forms, noting specially; transfer form in on prescribed form and duly stamped, cash transfer form bears stamp duty, the name of the company, in inadequate consideration an enquiry for the reasons therefore, alterations in the name and address of the transferee, etc.
4. Compare the signature of each transferor or on the transfer form with his signature on the original application for shares or on the transfer form.
5. Ascertain that none of the transform is disqualified from holding shares in the company.
6. Vouch the entries in the transfer journal by reference to transfer forms.
7. The transfer forms, after they have been checked, should be marked and the transferors share certificate cancelled to prevent the same being presented once again in support of another transfer.
8. Verify by reference to the minute book of the Board of Directors that all the transfers recorded in the transfer journal have been approved by the board.
9. Confirm that every clerk who was entrusted with certain duties as regards the registration of transfers has initialed the documents verified by him.
10. Check the postings of distinctive numbers of shares transferred and the name of transferors and transferees into the register of members from the share transfer journal.
11. Verify the particulars entered on counterfoils of shares certificate issued to the transferees.
12. Verify that every duplicate share certificate in lieu of one loss of destroyed has been issued under the consent of the Board and on the conditions prescribed by the board as regards production of evidence or execution of a bond of indemnity.
13. Ascertain in cases where shares certificates have been issued in replacement of old certificates whether such a fact was entered on the stub of the counter foil and the word “Duplicate” was punched or stamped in bold letters across the face of the share certificates.
14. Confirm that the forms of share certificates are printed only under the authority of the board.