Directors' discretion in transfer, allotment and transmission of shares

Abstract

The purpose of this thesis is to ascertain whether there is any justification in restricting the right of shareholders to transfer, allot and transmit shares, and to see whether it is expedient for directors to have a discretion to register shares that have undergone such a transfer, allotment or transmission. I have chosen to discuss the nature of a share in the introductory chapter precisely because the question whether these restrictions are justified depends on the nature of the share.