Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p36
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 89854–92515

shares in, debentures of, or an interest made available by, the company, the transferee or transmittee may apply to the Court for an order under this section.
"(2) Where, on an application made under sub-section (1), the Court is satisfied that the refusal or failure was without just cause, the Court may—
     (a) order that the transfer or transmission be registered; or
     (b) make such other order as it thinks proper, including, in the case of a transfer or transmission of shares, an order providing for the purchase of the shares by a specified member of the company or by the company and, in the case of a purchase by the company, providing for the reduction accordingly of the Capital of the company.
"(3) In this section—
     'interest' includes a prescribed interest;
     'relevant authority', in relation to a company, means—
         (a) a person who has, 2 or more persons who together have, or a body that has, authority to register a transfer or transmission of shares in, debentures of, or interests made available by, the company; or
         (b) a person, 2 or more persons, or a body, whose consent or approval is required before a transfer or transmission of shares in, debentures of, or interests made available by, the company is registered.".

Interpretation
61. Section 189 of the Principal Act is amended by omitting from sub-section (1) the definition of "prescribed stock exchange".

62. After section 205 of the Principal Act the following section is inserted:

Charges in favour of certain persons void in certain cases
"205a. (1) Where—
     (a) a company creates a charge on property of the company in favour of a person who is, or in favour of persons at least one of whom is, a relevant person in relation to the charge; and
     (b) within 6 months after the creation of the charge, the chargee purports to take a step in the enforcement of the charge without the Court having, under sub-section (3), given leave for the charge to be enforced,
the charge, and any powers purported to be conferred by an instrument creating or evidencing the charge, are, and shall be deemed always to have been, void.
"(2) Without limiting the generality of sub-section (1), a person who—
     (a) appoints a receiver of property of a company under powers conferred by an instrument creating or evidencing a charge created by the company; or
     (b) whether directly or by an agent, enters into possession or assumes control of property of a company for the purposes of enforcing a charge created by the company,
shall be taken, for the purposes of sub-section (1), to take a step in the enforcement of the charge.
"(3) On application by