WAIn ForceAct
Trustees Act 1962
74Shares, trustees' liability for calls on after transfer of
Start here
Get a plain-English read of 74
Turn the raw legal text into a practical explanation grounded in Trustees Act 1962.
##### 74. Shares, trustees’ liability for calls on after transfer of
A personal representative of a deceased person who was registered as the holder of shares not fully paid up in any incorporated company may distribute the assets of the estate of that deceased person as soon as the personal representative has procured the registration of some other person as the holder of the shares, without reserving any portion of the estate for the payment of any calls made after the date of that registration, whether made by the company or its directors or by its liquidators in a winding up, but nothing in this section affects any right that the company or its liquidator may have to follow the assets of the deceased person into the hands of any persons to or amongst whom they have been transferred or distributed.