A Laws.Africa project
23 April 1959

Nigeria Government Gazette supplement dated 1959-04-23 number 25 part B

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                                                                                                    B'213
      Supplombnt to. Official Gazette No. 25,Vol. 46, 23rd April, 1959—PartB

  LN, 99 of 1959       ee                   af
 ~ LOCAL LOANS (REGISTERED STOCK ANDSECURITIES)
                     -      . ORDINANCE (CHAPTER120)...
                     Local Loans (Registered Stock)Regulations,1959 -
        —                       Commencement ¢ 2ard April, 1989                       .




                                                                                                    Nae
       toradSickandSebasidoe)Ordinance;theMinieroretPeeseaees
      ‘thefollowing regulations=           BLE        aN    :
         1, Theae regulations may bo cited as the Local Loans (Registered Stock)          Citation
       Regulations, 1959. ©                                    PE AS
                                                                   oe


       |e Applies tions for allotment ofstock shall be made onforma tobeisstted           Applications
       hy the Central  Bank for.the purpose,     Poy       ry                             for allot-
                   Sab                                        7 ge                        ‘ments.


         3. (1)Allotment of stock shalf be made ‘in a manner to be agreed from            Allotment,
      _time to time between the Central Bank and the Minister.         gis
         {2} Letters .of allotment shall be issued to all persons to whom stock is:
       allotted.
                                                                                                a
        we    N                       :        :         .            :         ton
       “ty (1)-Asegioter,oF theholders of atock shall be kept by the Central Bank. .      Register.
             @ In the eventof stock being registered incorrectly owing toany mistake
    in the request for registration ortransfer, the account shall be amended
_: “Mponthe receipt of a letter or declaration, as the case may’require, stating
      how the error.arose, In the eventof alteration to any name or names in the.
   account which has been necessitated by reason of a transfer, re-execution, of
  _the transfer shall be made by the transferor or by his attorney, -        :
      . (3} On the marriage of a female:stockholder, her name and description
  . shall be altered in the register with respect to stock standingeither in: her -
       namesolely, orjointly with any other persons, on such stockholder praducing
       to the Central Bank her marriage cartificate, and notifying her change of
  . address, if any, and giving full particulars of the accounts in whichit is
                                                                                                          ee




       desired to have the alterations made. Specimens of her present and fornier
       signatures shall be furnished and the husband shall not be required to join.
       in thenotification.                           4   2s               ’
         5. (1) Certificates stating the name of the stockholder or stockholders Cortificatess.
  ~    tegistered as such  in the books ofthe Central Bank shall be issuedin exchange
      ’ for allotment Jettera at auchtimes as shall benotified in the allotmentletters.
         ® The loss or destruction of any stock certificate ‘shall be notified in         |:
                                                                                           .
                                                                                                          6
                                                                                                               -,
       writing tothe Central Bank as soon as. practicable by the person entitledto          :
                                                                                                              fos
                                                                                                              an
       the possession thereof.               .        —         ae         ee
        3) If the Central Bankare satisfied that any stock certificate has. been
       loat oF destroyed, of is of opinionthat any stock certificate has been. issued
       in error or        eon tampered with or is in such a condition as to renderits
       renewal desirable the CentralBank may                              Cee
          _ (a) in the case of loea or destruction,issue, after the expirationof two
       * ¢alendar months after the date. of receipt ofthe notification: in writingof
         the loss or destruction, a duplicate certificate; and            -    4.

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