182 Nature, transfer and numbering of shares.E+W+S
(1)The shares or other interest of any member in a company—
(a)are personal estate or, in Scotland, moveable property and are not in the nature of real estate or heritage,
(b)are transferable in manner provided by the company’s articles, but subject to the M1Stock Transfer Act 1963 (which enables securities of certain descriptions to be transferred by a simple process) [F1and to regulations made under section 207 of the Companies Act 1989 (which enable title to securities to be evidenced and transferred without a written instrument).][F2and to regulations made under section 207 of the Companies Act 1989 (which enable title to securities to be evidenced and transferred without a written instrument).].
(2)Each share in a company having a share capital shall be distinguished by its appropriate number; except that, if at any time all the issued shares in a company, or all the issued shares in it of a particular class, are fully paid up and rank pari passu for all purposes, none of those shares need thereafter have a distinguishing number so long as it remains fully paid up and ranks pari passu for all purposes with all shares of the same class for the time being issued and fully paid up.
Textual Amendments
F1Words in s. 182(1)(b) inserted (26.11.2001) by S.I. 2001/3755, reg. 51, Sch. 7 Pt. I para. 7 (with regs. 39, 45)
F2Words in s. 182(1)(b) inserted (19.12.1995) by S.I. 1995/3272, reg. 40(1)
Modifications etc. (not altering text)
C1S. 182(1)(b) excluded (12.2.1992) by S.I. 1992/225, reg. 18(2)(a).
Marginal Citations