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of <h1>Companies Bill 2011: Share Certificate Rules, Duplicate Issuance, and Section 447 Penalties for Fraudulent Transfers</h1> Clause 46 of the Companies Bill, 2011, outlines the regulations regarding share certificates. A certificate issued under the company's common seal serves as prima facie evidence of ownership. Duplicate certificates may be issued if the original is lost, destroyed, or damaged. The procedure for issuing certificates and maintaining member registers is prescribed by law. For shares held in depository form, the depository record is the prima facie evidence of ownership. Companies issuing duplicate certificates with fraudulent intent face significant fines, and officers in default face penalties under section 447. Depositories or participants transferring shares fraudulently are also liable under section 447.
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