# Stannaries Act 1869 (repealed 19.11.1998), Section 35: Fraudulent transfers of shares.

Extent: E+W+S+N.I.

A transfer of shares made for the purpose of getting rid of the further liability of a shareholder, as such, for a nominal or no consideration, or to a person without any apparent pecuniary ability to pay the reasonable expenses of working a mine, or to a person in the menial or domestic service of the transferror, shall be presumed to be a fraudulent transfer, and need not be recognized by the company, or by the court on the winding up of the company, whether the company be a registered or unregistered company.

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Source: https://www.legislation.gov.uk/ukpga/Vict/32-33/19/section/35 (the official version)
Page: https://openlegislation.uk/stannaries-act-1869-repealed-19111998/section-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.