SCHEDULE 4CONSEQUENTIAL AMENDMENTS
PART 3AMENDMENTS OF OTHER ENACTMENTS AND INSTRUMENTS
Uncertificated Securities Regulations 2001 (S.I. 2001/3755)97
1
Regulation 16 of the Uncertificated Securities Regulations 2001 (resolution authorising transfer of securities by paperless means) is amended as follows.
2
For paragraph (7) substitute—
7
In the event of default in complying with paragraph (4), an offence is committed by every officer of the issuer who is in default.
7A
A person guilty of such an offence is liable—
a
on conviction on indictment, to a fine;
b
on summary conviction, to a fine not exceeding the statutory maximum.
3
After paragraph (8) insert—
8A
Chapter 3 of Part 3 of the Companies Act 2006 (resolutions affecting a company’s constitution) applies to—
a
a directors’ resolution passed by virtue of paragraph (2), or
b
a resolution of a company passed by virtue of paragraph (6) preventing or reversing such a resolution.