Section 44: Nature of shares or debentures
This section determines the nature of shares or debentures in a company as movable property.
The section, clause by clause
What the section says
In plain terms
The shares or debentures or other interest of any member in a company shall be movable property transferable in the manner provided by the articles of the company.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs. by Act 21 of 2015, s. 7, for “issued under the common seal of the company” (w.e.f. 29-5-2015).
- 2. Subs. by Act 1 of 2018, s. 11, for “provisions of section 43 and sub-section (2) of section 50” (w.e.f. 9-2-2018).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.