Question 15.2

On 1 February 2022, Rita entered into an agreement to sell her 10,000 shares in Counter Bhd to Sally. Sally paid Rita the purchase price of RM25,000 for the shares on 5 March 2022. Sally lodged the transfer with the company on 13 March 2022. The shares were transferred to Sally on 29 March 2022. Discuss the following separately:

(a) When did Sally become a member of Counter Bhd?

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(b) Assuming that the company is paying dividend on the shares on 15 March 2022, should the company pay the dividend to Rita or Sally?

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(c) Assuming that the shares are not fully paid up, leaving a balance of RM4,000. The company wants to call on the unpaid sum. Who is liable to pay the RM4,000 to the company?