79(1)A company may, pursuant to any by-law, close its transfer book for seven days previous to the payment of a dividend, not exceeding four times in any one year.

79(2)Any transfer of the shares or other interest of a deceased shareholder, made by his personal representative, is, notwithstanding such personal representative is not himself a shareholder, of the same validity as if he had been a shareholder at the time of his execution of the instrument of transfer.

79(3)If a transmission of shares or other securities of a company takes place by virtue of any testamentary act or instrument, or in consequence of an intestacy, and if the probate of the will or letters of administration or document testamentary, or other judicial or official instrument under which the title, whether beneficial or as trustee, or the administration or control of the personal estate of the deceased is claimed to vest, purports to be granted by any court or authority in Canada or in any foreign country, the probate of the will, the letters of administration, the document testamentary or the other judicial or official instrument or any authenticated copy thereof, or official extract therefrom, shall together with a declaration in writing showing the nature of such transmission and signed and executed by the person or persons claiming by virtue thereof, be produced and deposited with the manager, secretary, treasurer or other officer or transfer agent named by the directors for the purpose of receiving the same.

79(4)Subject to the provisions of the Succession Duty Act, chapter 12 of 24 George V, such production and deposit is sufficient justification and authority to the company for paying the amount or value of any dividend, coupon, bond, debenture or obligation or share, or transferring or consenting to the transfer of any bond, debenture or obligation or share, in pursuance of and in conformity with such probate, letters of administration or other such document.

79(1)A company may, pursuant to any by-law, close its transfer book for seven days previous to the payment of a dividend, not exceeding four times in any one year.

79(2)Any transfer of the shares or other interest of a deceased shareholder, made by his personal representative, is, notwithstanding such personal representative is not himself a shareholder, of the same validity as if he had been a shareholder at the time of his execution of the instrument of transfer.

79(3)If a transmission of shares or other securities of a company takes place by virtue of any testamentary act or instrument, or in consequence of an intestacy, and if the probate of the will or letters of administration or document testamentary, or other judicial or official instrument under which the title, whether beneficial or as trustee, or the administration or control of the personal estate of the deceased is claimed to vest, purports to be granted by any court or authority in Canada, or in Great Britain or Northern Ireland, or any other of Her Majesty’s dominions, or in any foreign country, the probate of the will, the letters of administration, the document testamentary or the other judicial or official instrument or any authenticated copy thereof, or official extract therefrom, shall together with a declaration in writing showing the nature of such transmission and signed and executed by the person or persons claiming by virtue thereof, be produced and deposited with the manager, secretary, treasurer or other officer or transfer agent named by the directors for the purpose of receiving the same.

79(4)Subject to the provisions of the Succession Duty Act, chapter 12 of 24 George V, such production and deposit is sufficient justification and authority to the company for paying the amount or value of any dividend, coupon, bond, debenture or obligation or share, or transferring or consenting to the transfer of any bond, debenture or obligation or share, in pursuance of and in conformity with such probate, letters of administration or other such document.

79(1)A company may, pursuant to any by-law, close its transfer book for seven days previous to the payment of a dividend, not exceeding four times in any one year.

79(2)Any transfer of the shares or other interest of a deceased shareholder, made by his personal representative, is, notwithstanding such personal representative is not himself a shareholder, of the same validity as if he had been a shareholder at the time of his execution of the instrument of transfer.

79(3)If a transmission of shares or other securities of a company takes place by virtue of any testamentary act or instrument, or in consequence of an intestacy, and if the probate of the will or letters of administration or document testamentary, or other judicial or official instrument under which the title, whether beneficial or as trustee, or the administration or control of the personal estate of the deceased is claimed to vest, purports to be granted by any court or authority in Canada, or in Great Britain or Northern Ireland, or any other of Her Majesty’s dominions, or in any foreign country, the probate of the will, the letters of administration, the document testamentary or the other judicial or official instrument or any authenticated copy thereof, or official extract therefrom, shall together with a declaration in writing showing the nature of such transmission and signed and executed by the person or persons claiming by virtue thereof, be produced and deposited with the manager, secretary, treasurer or other officer or transfer agent named by the directors for the purpose of receiving the same.

79(4)Subject to the provisions of the Succession Duty Act, chapter 12 of 24 George V, such production and deposit is sufficient justification and authority to the company for paying the amount or value of any dividend, coupon, bond, debenture or obligation or share, or transferring or consenting to the transfer of any bond, debenture or obligation or share, in pursuance of and in conformity with such probate, letters of administration or other such document.