COMPANIES ACT - 1963 (ACT 179)

    Section - 54 - Effect of Share Certificates

    (1) Statements made in a share certificate under the common seal of the company shall be prima facie evidence of the title to the shares of the person named therein as the registered holder and of the amounts paid and payable thereon.

    (2) If any person shall change his position to his detriment in reliance in good faith on the continued accuracy of the statements made in such certificate the company shall be estopped in favour of such person from denying the continued accuracy of such statements and shall compensate such person for any loss suffered by him in reliance thereon and which he would not have suffered had the statement been or continued to be accurate:

    Provided that nothing herein contained shall derogate from any right the company may have to be indemnified by any other person.