§ MR. GRAYasked Mr. Solicitor General, Whether he is aware that numerous English public companies refuse to transfer shares on Irish probate or grants of administration without having the same resealed in England at considerable unnecessary expense; and, whether such demand is legal?
§ THE SOLICITOR GENERAL (Sir FARRER HERSCHELL)said, that English 92 Public Companies were acting quite legally in refusing to transfer shares on Irish probate or grants of administration without having the same resealed in England. The Companies were not bound to wait until the probate had been granted; but they could do so as an extra precaution. The law upon the subject applied to Ireland as well as to England.
§ MR. GRAYIt only makes the matter worse if it obtains in the two countries. Is there no way of obviating it?
§ THE SOLICITOR GENERAL (Sir FARRER HERSCHELL)It can only be done by a change in the law.
§ MR. GRAYIs it not a fact that Insurance Companies will accept Irish probate of the proof of debt, and will refuse it to enable a transfer of shares?
§ THE SOLICITOR GENERAL (Sir FARRER HERSCHELL)That may be so. They are not required to do it, and if they like they can dispense with it.