Point in time view as at 06/04/2018.
Companies Act 2006, Cross Heading: Issue of certificates etc on allotment is up to date with all changes known to be in force on or before 02 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.
(1)A company must, within two months after the allotment of any of its shares, debentures or debenture stock, complete and have ready for delivery—
(a)the certificates of the shares allotted,
(b)the debentures allotted, or
(c)the certificates of the debenture stock allotted.
(2)Subsection (1) does not apply—
(a)if the conditions of issue of the shares, debentures or debenture stock provide otherwise,
(b)in the case of allotment to a financial institution (see section 778), or
(c)in the case of an allotment of shares if, following the allotment, the company has issued a share warrant in respect of the shares (see section 779).
(3)If default is made in complying with subsection (1) an offence is committed by every officer of the company who is in default.
(4)A person guilty of an offence under subsection (3) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
Modifications etc. (not altering text)
C1S. 769 applied (with modifications) (22.2.2008) by The Northern Rock plc Transfer Order 2008 (S.I. 2008/432), art. 3(8)
C2S. 769 applied (with modifications) (1.10.2009) by The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 (S.I. 2009/1804), regs. 2, 24
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