Chapter: 32 COMPANIES ORDINANCE
Section Num: 104 Version Date 30/06/1997
Regulations as to branch register
(1) A branch register shall be deemed to be part of the company's register of members (in this section called the principal register).
(2) It shall be kept in the same manner in which the principal register is by this Ordinance required to be kept, except that the advertisement before closing the register shall be inserted in some newspaper circulating in the district where the branch register is kept.
(3) The company shall-
(a) transmit to its registered office a copy of every entry in its branch register as soon as may be after the entry is made; and
(b) cause to be kept at the place where the company's principal register is kept a duplicate of its branch register duly entered up from time to time.
Every duplicate shall for all the purposes of this Ordinance be deemed to be part of the principal register. (Replaced 6 of 1984 s. 67)
(4) Subject to the provisions of this section with respect to the duplicate register, the shares registered in a branch register shall be distinguished from the shares registered in the principal register, and no transaction with respect to any shares registered in a branch register shall, during the continuance of that registration, be registered in any other register.
(5) A company may discontinue to keep a branch register, and thereupon all entries in that register shall be transferred to some other branch register kept by the company or to the principal register.
(6) Subject to the provisions of this Ordinance, any company may, by its articles, make such provisions as it may think fit respecting the keeping of branch registers.
(7) If default is made in complying with subsection (3), the company and every officer of the company who is in default shall be liable to a fine and, for continued default, to a daily default fine; and where, by virtue of proviso (b) to section 95(2), the principal register is kept at the office of some person other than the company and by reason of any default of his the company fails to comply with subsection (3)(b), he shall be liable to the same penalty as if he were an officer of the company who was in default. (Replaced 6 of 1984 s. 67. Amended 7 of 1990 s. 2)
(Amended 6 of 1984 s. 67)
[cf. 1929 c. 23 s. 104 U.K.]