Maharashtra State BoardHSC Commerce 12th Board Exam
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Explain the following term/concept. Blank transfer - Secretarial Practice

Short Note

Explain the following term/concept.

Blank transfer

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Solution

(a) When a member signs the Instrument of transfer without filling in the name of the transferee and hands it over to the transferee along with the share certificate, it is called 'Blank Transfer'.

(b) Blank transfers can be deposited with a bank when shares are being used as security for a loan. A blank transfer can also be used when shares are held by nominees, the beneficial owner holding the blank transfer.

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APPEARS IN

Balbharati Secretarial Practice 12th Standard HSC Maharashtra State Board
Chapter 3 Issue of Shares
Exercise Q.2 | Q 16 | Page 65
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