1. The instrument of incorporation of a company may contain provison as to share transfers in respect of any matter for which provision is not made in these Regulations or FSA rules.
2. Where any shares are transferred to the company, the company must cancel those shares.
3. In the case of a company which is a participating issuer, nothing in this Schedule applies—
(a)to any transfer of a share in the company which is an uncertificated unit of a security; or
(b)in any of the circumstances set out in sub-paragraph (b) or (c) of regulation 27(2) of the Uncertificated Securities Regulations 1995 (conversion of securities into uncertificated form).