24BDealings by joint owners

24B Dealings by joint owners

(1) Where:

(a) stock is inscribed in the names of 2 or more persons, not being or including persons who are infants or under a legal disability, as joint owners; and

(b) the joint owners give instructions in writing to the Registrar in accordance with the approved form that:

(i) any notice under subregulation 10 (2); or

(ii) any transfer under regulation 23; or

(iv) any request in respect of the payment of interest under regulation 32; or

(v) any application for the issue of bearer securities in exchange for stock under regulation 41;

if signed by any one or more of the joint owners of the stock, is to be valid and effectual for all purposes as if signed by all of the joint owners;

the Registrar shall give effect to the instructions.

(2) The instructions may be cancelled by one or more of the joint owners by notification in writing to the Registrar.

(3) A cancellation does not have effect until it is received by the Registrar.