C3C1C2Part 21Certification and transfer of securities
Pt. 21 applied (with modifications) (8.00 a.m. on 29.9.2008) by The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008 (S.I. 2008/2546), art. 4(7)
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Chapter 2Evidencing and transfer of title to securities without written instrument
Powers exercisable
I1786Provision enabling or requiring arrangements to be adopted
1
Regulations under this Chapter may make provision—
a
enabling the members of a company or of any designated class of companies to adopt, by ordinary resolution, arrangements under which title to securities is required to be evidenced or transferred (or both) without a written instrument; or
b
requiring companies, or any designated class of companies, to adopt such arrangements.
2
The regulations may make such provision—
a
in respect of all securities issued by a company, or
b
in respect of all securities of a specified description.
3
The arrangements provided for by regulations making such provision as is mentioned in subsection (1)—
a
b
must be such that a person who but for the arrangements would be entitled to exercise any rights in respect of the securities continues to be able effectively to control the exercise of those rights.
4
The regulations may—
a
prohibit the issue of any certificate by the company in respect of the issue or transfer of securities,
b
require the provision by the company to holders of securities of statements (at specified intervals or on specified occasions) of the securities held in their name, and
c
make provision as to the matters of which any such certificate or statement is, or is not, evidence.
5
In this section—
a
references to a designated class of companies are to a class designated in the regulations or by order under section 787; and
b
“specified” means specified in the regulations.
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))