The copper era and Morenci leader., 1913-10-24

at the rate of s10 per cent. per an- mum from the day appointed for the payment thereof to the time of the actual payment, but the Directors shall be at liberty to waive payment of that interest wholly or in part. IF. The provisions of these regu- lationS as to payment of interest shall apply in the case of non-payment of any sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on account of the amount of the Share, or by way of premium, as if the same had become payable by virtue of call duly made and notified.
 IS. The Directors may make ar engagements on the issue of Shares in the amount of calls to be paid and in the times of payment.
 19. The Directors may, if they think fit, receive from any Member willing to advance the same all or any part of the moneys uncalled and unpaid upon any Shares held by him; and upon all or any of the moneys so advanced may (until the same would, but for such advance, become presently payable) pay interest at such rate (not exceeding, without the sanction of the Company in general meeting, per cent) as may be agreed upon between the Member paying the sum in advance and the Directors. Such advance shall eX- tinguish, so far as it shall extend, the liability existing upon the Shares in respect of which it is received.
 A. TRANSFER AND TRANSMIS- .. .. MISSION OF SHARES. .. ..
 20. The instrument of transfer of any Share in the Company shall be executed both by the transferor and transferee, and the transferor shall be deemed to remain a holder of the Share until the name of the trans fierce is entered in the register of Members in respect thereof.
 21. Shares in the Company shall be transferred in any usual or com mon form of which the Directors shall approve.
 g. The Directors may decline to recognize any instrument of transfer unless (a) fee not exceeding two shillings and sixpense is paid to the Company in respect thereof, and (b) the instrument of transfer is accom- panied by the certificate of the Share to which it. relates, and such other evidence as the Directors may req sonably require to show the right of the transferor to make the transfer.
 23 The executors or administra- tors of a deceased sole holder of a Share shall be the only persons recog- nised by the Company as having any title to the Share. In the case of a Share registered in the names of two or more holders, the survivors or survivor, or the executors or admins trators of the deceased survivor, shall be the only persons recognised by the Company as have any title to the Share.
 24 Any person becoming entitled to a Share in consequence of the death or bankruptcy of Member shall, upon such evidence being pro- duced as may from time to time be required by the Directors, have the Member in respect of the Share, or, instead of being registered himself, to make such transfer of the Share as the deceased or bankrupt person could have made, but the Directors shall, in either case, have the same right to decline or suspend registra- tion as they would have had in the case Of a transfer of the Share by the deceased or bankrupt person before the death or bankruptcy.
 25. A person becoming entitled to a Share by reason of the death or bankruptcy of the holder shall be en- titled to the same dividends and other advantages to which he would be entitled if he were the registered holder of the Share, except that he shall not, before being registered as a Member in respect of the Share, be entitled in respect of it to exercise any right conferred by membership in relation to meetings of the Company.
 26 The transfer books may be closed during such period or periods as the Beard may think fit, not eX- ceeding on the whole 2S days in each year.
 ,. FORFEITURE OF SHARES.
 27 If Member fails to pay any call or money payable under the terms of allotment of a Share on the day appointed for payment thereof, the Directors may, at any time while the same remains unpaid, serve a notice on him requiring payment of the same, together with any interest which may have accrued, and any expenses that may have been incurred by the Company by reason of such non-payment.
 2S. The notice shall name a furth- CT day (not less than seven days from the date of the notice) on or before which the payment required by the notice is to be made, and shall state that, in the event of non-payment at or before the time appointed, the Share in respect of which the pay ment is due will be liable to be for feited
 29. If the requirements of any such notice as aforesaid are not complied with, any Share in respect of which the notice has been given may at any time thereafter, before the pay ment required by the notice has been made, be forfeited by a resolution tho POard tn that affQot
 30. A forfeited Share may be held, re-allotted, sold or otherwise disposed of on such terms and in such man. ner as the Board think fit. and at any