Question

    Which section of the SC(R)A Act deals withs the

    provisions of title to dividends?
    A Section 27 Correct Answer Incorrect Answer
    B Section 28 Correct Answer Incorrect Answer
    C Section 29 Correct Answer Incorrect Answer
    D Section 30 Correct Answer Incorrect Answer
    E Section 33 Correct Answer Incorrect Answer

    Solution

    Section 27. Title to dividends: (1) It shall be lawful for the holder of any security whose name appears on the books of the company issuing the said security to receive and retain any dividend declared by the company in respect thereof for any year, notwithstanding that the said security has already been transferred by him for consideration, unless the transferee who claims the dividend from the transferor has lodged the security and all other documents relating to the transfer which may be required by the company with the company for being registered in his name within fifteen days of the date on which the dividend became due.

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