(1) An application to subscribe for or purchase stock must be made in writing.
(2) In the case of an application by a joint account, the application must contain the names of the proposed owners in the order in which they are to appear in the stock register.
(3) Upon receipt and acceptance of the application and receipt of the purchase money, the registrar must—
(a) inscribe in the stock register the name of each owner of the stock and the address to which certificates, receipts, other documents and money relating to the stock are to be forwarded; and
(b) issue a certificate of inscription.