https://www.taxtmi.com/caselaws?id=97695 Whether a joint holder whose name appears on the register can be treated as a shareholder for the purpose of an article restricting transfers was resolved by construing the membership proviso narrowly: the proviso in the private company definition operates only for counting members towards the membership limit and does not exclude individual registered joint holders from shareholder status for transfer purposes. Table A regulations and authorities recognising individual capacities of joint holders support treating a registered joint holder as capable of receiving transfers. Outcome: transfers to the joint transferees were not illegal or ultra vires and the plaintiff's challenge failed. en-us Thu, 24 Dec 1959 00:00:00 +0530 Tue, 17 Jan 2012 16:59:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97695 Whether a joint holder whose name appears on the register can be treated as a shareholder for the purpose of an article restricting transfers was resolved by construing the membership proviso narrowly: the proviso in the private company definition operates only for counting members towards the membership limit and does not exclude individual registered joint holders from shareholder status for transfer purposes. Table A regulations and authorities recognising individual capacities of joint holders support treating a registered joint holder as capable of receiving transfers. Outcome: transfers to the joint transferees were not illegal or ultra vires and the plaintiff's challenge failed. Case-Laws Companies Law Thu, 24 Dec 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97695