C-38 - Companies Act

Full text
165. No share shall be transferable until all calls payable thereon up to the time of transfer have been fully paid.
The directors may decline to register any transfer of shares belonging to any shareholder who is indebted to the company.
The provisions of the immediately preceding paragraph shall not apply to the shares contemplated by subsection 2 of section 163.
R. S. 1964, c. 271, s. 161.