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Section 77 of The Companies Act.
It's unlawful for a company to register a transfer of shares in or debentures of the company unless a proper instrument of transfer duly stamped has been delivered to the company: -
Provided that nothing shall prejudice any power of the company to register as shareholder or debenture holder any person to whom the right to any shares in or debentures of the company has been transmitted by operation of law.
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