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Companies Act 2006

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Changes over time for: Section 778

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Version Superseded: 28/11/2017

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Status:

Point in time view as at 17/06/2016. This version of this provision has been superseded. Help about Status

Changes to legislation:

Companies Act 2006, Section 778 is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

778Issue of certificates etc: allotment or transfer to financial institutionU.K.
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(1)A company—

(a)of which shares or debentures are allotted to a financial institution,

(b)of which debenture stock is allotted to a financial institution, or

(c)with which a transfer for transferring shares, debentures or debenture stock to a financial institution is lodged,

is not required in consequence of that allotment or transfer to comply with section 769(1) or 776(1) (duty of company as to issue of certificates etc).

(2)A “financial institution” means—

(a)a recognised clearing house acting in relation to a recognised investment exchange, or

(b)a nominee of—

(i)a recognised clearing house acting in that way, or

(ii)a recognised investment exchange,

designated for the purposes of this section in the rules of the recognised investment exchange in question.

(3)Expressions used in subsection (2) have the same meaning as in Part 18 of the Financial Services and Markets Act 2000 (c. 8).

Modifications etc. (not altering text)

C1S. 778 disapplied (retrospective to 30.3.2009 at 8.00 a.m.) by The Amendments to Law (Resolution of Dunfermline Building Society) Order 2009 (S.I. 2009/814), arts. 1(2), art. 3(5)(b)

C3S. 778 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), {regs. 3-5, Sch. 1 para. 12(1)(b)(2)} (with transitional provisions and savings in regs. 7, 9, Sch. 2)

C4S. 778 disapplied (1.1.2010) by The Northern Rock plc Transfer Order 2009 (S.I. 2009/3226), arts. 1(2), 3, Sch. 1 para. 28(5)(c)

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