COMPANIES ACT - 1963 (ACT 179)

    Section - 100 - Protection of Beneficiaries

    (1) Any person claiming to be interested in any shares or debentures or the dividends or interest thereon may protect his interest by serving on the company concerned copies of a notice and affidavit in accordance with the provisions of Order 46 rules 4 to 12 of the Rules of the High Court.

    (2) Notwithstanding the provisions of subsection (1) of section 98 of this Code, the company shall enter on the register of members or debentureholders, as the case may be, the fact that such notice has been served and shall not register any transfer or make any payment or return in respect of the shares or debentures contrary to the terms of the notice until the expiration of due notice to the claimant in accordance with the provisions of that Order.

    (3) In the event of any default by the company in complying with this section the company shall compensate any person injured thereby.