South Australian Consolidated Acts

SOUTH AUSTRALIAN CO-OPERATIVE AND COMMUNITY HOUSING ACT 1991 - SECT 55

55—Share certificates

        (1)         Within two months after the issue to any person of any investment shares of a registered housing co-operative, the co-operative must—

            (a)         complete, and have ready for delivery to the person, a certificate that relates to those shares; and

            (b)         unless otherwise instructed by the person, send or deliver the completed certificate to the person or, where the person has instructed the co-operative in writing to send them to a nominated person, to that person.

        (2)         A certificate referred to in subsection (1) must be under the common seal of the co-operative and must state—

            (a)         the name of the co-operative; and

            (b)         the number of shares allotted.

        (3)         A certificate issued by a registered housing co-operative specifying the shares held by a member of the co-operative is evidence of the title of the member to the shares.

        (4)         Failure to comply with this section does not affect the rights of a shareholder.