Unless otherwise directed in accordance with Section 206 of the act, any dividend, interest or other moneys payable in respect of a share, may be paid by cheque or warrant, sent through the post to the registered address of the holder or; in the case of joint-holders, to the registered address of that one of the joint-holders, who is the first named in the registered in respect of the join holding or to such person and such address as the holder or joint-holders, as the case may be, may direct and every cheque or warrant so sent shall be made payable to the person to whom it is sent.