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Share Market Terms , Definition and Meaning - Alphabetical LISTING - A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, Y, Z
Bad Delivery Delivery of a share certificate, together with a deed of transfer, considered defective for the following reasons: share certificate without the company seal or a mutilated seal; call money not paid and the call date expired; correction, erasure, overwriting, or alteration in the number of shares, in the certificate number or distinctive numbers of shares or in the last holder’s name, unless these are initialed under the company’s rubber stamp; certificate badly torn or patched up, mutilating any details; deed of transfer not in the standard prescribed form; torn or mutilated, with particulars made illegible; transferor’s name on the deed differs from that on the certificate; transferor’s signature attested but without the signatory’s name and address; transfer deed signed by an ineligible person, e.g. a lunatic or a minor or a person against whom insolvency proceedings are pending. A bad delivery will not be accepted by the buying broker.
In case you have been given a bad delivery by your broker, he is obliged to rectify the faults by getting a replacement of the certificate or the deed of transfer. |
Share Market Terms , Definition and Meaning - Alphabetical LISTING - A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, Y, Z
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