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of <h1>Companies Must Clarify Notices: Section 154 Only Applies to Register of Members, Not 'Transfer Books.</h1> Companies have been issuing newspaper notices about the closure of 'transfer books' under section 154 without mentioning the closure of the register of members or debenture-holders. This inconsistency can confuse shareholders. The Company Law Board advises that notices should specifically refer to the closure of the register of members and debenture-holders, as section 154 pertains only to these registers. Since 'transfer books' are not statutory documents, notices about their closure under section 154 are unnecessary and inappropriate if they differ from the register of members or debenture-holders.
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