http://www.legislation.gov.uk/ukdsi/2017/9780111160596/regulation/119
The Risk Transformation Regulations 2017
en
King's Printer of Acts of Parliament
2017-10-23
FINANCIAL SERVICES AND MARKETS
2017-01-01
These Regulations make provision for transformer vehicles, within the meaning given by section 284A of the Financial Services and Markets Act 2001 (c. 8; section 284A was inserted by section 31 of the Bank of England and Financial Services Act 2016 (c. 14)). They are to be read with the Risk Transformation (Tax) Regulations 2017. Collectively, these Regulations facilitate and regulate the issue of insurance linked securities in the United Kingdom.
The Risk Transformation Regulations 2017
PART 4Protected Cell Companies
CHAPTER 9Shares and shareholders
SECTION 5Share transfers
General119
1
Shares issued by a protected cell company are transferable in accordance with the protected cell company’s instrument of incorporation.
2
Where a person holding shares issued by a protected cell company transfers those shares to another person (the “transferee”), legal title to those shares only passes to the transferee when the transferee is registered as the owner of those shares by the protected cell company.
3
The instrument of incorporation of a protected cell company may contain provision as to share transfers in respect of any matter for which provision is not made by this Part.