The Risk Transformation Regulations 2017 No. 1212

PART 4 U.K. Protected Cell Companies

CHAPTER 9 U.K. Shares and shareholders

SECTION 2 U.K. Issue, allotment and alteration of share capital

Numbering of shares U.K.

101.—(1) Each share issued on behalf of a part of protected cell company must be distinguished by its appropriate number, except in the following circumstances.

(2) A share issued on behalf of a part of a protected cell company need not have a distinguishing number provided—

(a) all the shares issued on behalf of that part are fully paid up and rank pari passu for all purposes; or

(b) all the shares issued on behalf of that part and belonging to the same class as that share are fully paid up and rank pari passu for all purposes.