Section XI. And it is hereby enacted, that a Certificate signed by three Directors of the said Company shall be

XI. And it is hereby enacted, that a Certificate signed by three Directors of the said Company shall be delivered to every Proprietor or Shareholder of the said Company, and that any Share of the said Company shall be transferable by indorsement made on the Certificate representing such Share or Shares respectively by the holder thereof, provided that such indorsement shall specify the name of the party to whom such transfer is made ; Provided always that no such indorsement shall be effectual to transfer any Share or Shares until the transfer shall have been registered in a registry to be kept for that purpose at the Principal Office in Calcutta of the said Company, and until a note of such registration and of the date thereof shall have been made on the back of the indorsed Certificate under the hand of the Secretary of the said Company for the time being, or of such other officer as shall be appointed by the said Company for that purpose.