5/18/2011 Transfer of shares Can directors refuse registration of the transfer? ·Table A pt ll reg3. ■Re Smith and Fawcett Simon Fireman v Golden Rice Bowl Private companies and s 29. Fraudulent transfers. Maintenance of capital Requirement of maintenance of capital. ·Why? 45/18/2011 4 7 Transfer of shares • Can directors refuse registration of the transfer?  Table A pt II reg 3.  Re Smith and Fawcett  Simon Fireman v Golden Rice Bowl • Private companies and s 29. • Fraudulent transfers. 8 Maintenance of capital • Requirement of maintenance of capital. • Why?