Share Certificate

(1) Where a company issues any share capital, no certificate of any share or shares held in the company shall be issued, except-

(b) on surrender to the company of the letter of allotment or fractional coupons of requisite value, save in cases of issues against letters of acceptance or of renunciation, or in cases of issue of bonus shares:

PLEASE EXPLAIN WHY THERE IS A NEED TO ISSUE SHARE CERTIFICATE IN CASE OF (b) ABOVE