Section 48, Cap. 287

The holders of stock shall, according to the amount of stock heldby them, have the same rights, privileges and advantages as regards dividends, distributions, voting and other matters as if they held the shares from which the stock arose, but no such privilege or advantage (except participation in dividends and profits and in the assets on winding up) shall be conferred by an amount of stock that would not, if existing in shares, have conferred such privilege or advantage.