(1) Except as provided in this section, notice of a trust, express, implied or constructive, shall not be—
(a) entered by a company in any of the registers maintained by it under section 177; or
(b) received by the Registrar.
(2) Liabilities are not affected by anything done under subsection (3), (4) or (5); and the company concerned is not affected with notice of any trust by reason of anything so done.
(3) A personal representative of the estate of a deceased individual who was registered in a register of a company as a member or debenture holder may become registered as the holder of that share or debenture as personal representative of that estate.
(4) A personal representative of the estate of a deceased individual who was beneficially entitled to a share or debenture of the company that is registered in a register of the company may, with the consent of the company and of the registered member or debenture holder, become the registered member or debenture holder as the personal representative of the estate.
(5) When a personal representative of an estate of a deceased individual is registered under subsection (3) as a holder of a share or debenture of a company, the personal representative is, in respect of that share or debenture, subject to the same liabilities, and no more, that he or she would be subject to had the share or debenture remained registered in the name of the deceased individual.
Accounts, Minutes and Other Records