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713. Certification of instrument of transfer

Past version: effective from 21/10/2015 - 20/10/2015
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(1) The certification by an LLP of an instrument of transfer of any debentures of the LLP is to be taken as a representation by the LLP to any person acting on the faith of the certification that there have been produced to the LLP such documents as on their face show a prima facie title to the debentures in the transferor named in the instrument.
(2) The certification is not to be taken as a representation that the transferor has any title to the debentures.
(3) Where a person acts on the faith of a false certification by an LLP made negligently, the LLP is under the same liability to him as if the certification had been made fraudulently.
(4) For the purposes of this section —
(a) an instrument of transfer is certificated if it bears the words "certificate lodged" (or words to the like effect),
(b) the certification of an instrument of transfer is made by an LLP if —
(i) the person issuing the instrument is a person authorised to issue certificated instruments of transfer on the LLP's behalf, and
(ii) the certification is signed by a person authorised to certificate transfers on the LLP's behalf or by a member or employee of the LLP or by an officer or employee of a body corporate so authorised,
(c) a certification is treated as signed by a person if —
(i) it purports to be authenticated by his signature or initials (whether handwritten or not), and
(ii) it is not shown that the signature or initials was or were placed there neither by himself nor by a person authorised to use the signature or initials for the purpose of certificating transfers on the LLP's behalf."