1266
THE NEW ZEALAND GAZETTE.
[No. 33

sale separate transfers. In no case is it incumbent on a seller
to deliver Scrip otherwise than in accordance with the terms of
the contract.

Seller responsible for validity of documents.
82. The selling Broker shall be responsible for a reasonable
time from date of delivery for the validity of all documents
delivered, and for the shares being free from all liability due
or payable at the time of sale. The official stamps of the
Exchange, embodying the words, “Scrip forwarded to the
Company’s office this day,” and “Scrip in support of this transfer
for . . . . . . shares, forwarded to the Company’s office this day,”
shall be kept in the custody of the Secretary of such Exchange,
and at the request of any member, on payment of one shilling
for the first valid transfer from one certificate, and sixpence for
each other such transfer from the same certificate, he shall affix
one or other of the said stamps to any transfer required,
appending thereto his ordinary signature as Secretary, and the
date written in full. He must, however, first have received from
the applicant the ordinary scrip or transfer, which he will forward
at once under registered cover to the Secretary or proper officer
of the Company in question, with an intimation as to the number
of transfers marked with the stamp and the number of shares
embodied in such transfer. He must also keep a record of all
such transactions in the Register provided for the purpose. He
shall keep the official marking stamps referred to above under
lock and key, and should any misuse of them be made through his
neglecting this or any other necessary precaution, he shall be
liable for any loss occasioned thereby. In the absence of the
Secretary the Chairman or Vice-Chairman of an Exchange may
exercise the foregoing powers of the Secretary.

State transfer.
83. It shall not be incumbent upon a member to accept a
transfer of mining shares more than fourteen days old.

Shares on Foreign Register.
84. A seller of shares in foreign companies having a colonial
register shall deliver scrip on the colonial register, unless the
contract otherwise provides.

A seller of shares in Companies registered outside of New
Zealand, not having a New Zealand Register, shall deliver Scrip
on the Register of the Head Office of the Company unless the
contract otherwise provides.

Documents at Seller’s risk.
85. All bonds or documents are at the seller’s risk until
delivered to the buyer.

Buyer liable to expense of holding over Seller’s draft.
86. In the event of the seller being put to any expense
through a draft being held over, the buyer shall be liable to
make good to the seller all such expense. Should the draft
be presented on a Stock Exchange holiday it shall be payable
on the day the Exchange reopens.

Bonds delivered in £100 parcels.
87. Delivery of Bonds shall be in single £100 Bonds, unless
otherwise arranged at time of sale.

Broker not to affix stamp.
88. No member of an Exchange shall be permitted to print
or affix his name stamp on any transfer or scrip delivered to
another broker.

Re-sale where Seller’s client incapable of delivering.
89. In the event of a Member’s client dying or becoming
otherwise incapable of receiving and paying for or delivering
or transferring stock or shares which the client has ordered to
be bought or sold, and after reasonable inquiry the Member has
no knowledge of any one legally authorized to complete such
purchases or sales on the client’s behalf, the Member may,
through the Chairman or with his authority, resell or repurchase,
as the case may be, and the client (or his estate) shall be liable
for any deficiency and be entitled to any surplus which may
result.

Powers of Attorney.
90. Every transfer of shares or of stock purporting to be
executed under a power of attorney or by an executor or adminis-
trator, shall, when tendered to a buying member, bear an acknow-
ledgment under the hand of an officer of the Company, or of the
Government to whose shares or stock respectively the transfer
relates, to the effect that the power of attorney, probate, or
letters of administration, has been exhibited to such Company or
Government. The Secretary of each Exchange shall have power
to certify as correct such documents on production to him of
evidence that Power of Attorney, or Probate, or Letters of
Administration have been recorded by the authority concerned.
Every such transfer purporting to have been executed under a
power of attorney shall also be accompanied by a statutory