Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997)

The certificate in respect of shares registered in the names of two or more institutions shall be delivered to the first named in the register in respect therefore, or to its authorised agent, and in case any one or more of the joint registered holders of any shares cease to exist, the other holder then first named in the register named in the register shall be the only holder recognised by the Bank as being entitled to such certificate or any new certificate which may be issued in place thereof.