Small Business, Enterprise and Employment Act 2015

84 Abolition of share warrants to bearer U.K.

(1) In section 779 of the Companies Act 2006 (issue and effect of share warrant to bearer), after subsection (3) insert—

“(4) No share warrant may be issued by a company (irrespective of whether its articles purport to authorise it to do so) on or after the day on which section 84 of the Small Business, Enterprise and Employment Act 2015 comes into force.”

(2) For the heading of that section substitute “ Prohibition on issue of new share warrants and effect of existing share warrants ”.

(3) Schedule 4—

(a) makes provision for arrangements by which share warrants issued before this section comes into force are to be converted into registered shares or cancelled, and

(b) makes amendments consequential on that provision.