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The Open-Ended Investment Companies Regulations 2001
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- 06/03/2009- Amendment
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[F14A.—(1) Subject to sub-paragraph (2), section 136 of the Law of Property Act 1925 (which provides for certain assignments in writing to be effectual in law) applies to an absolute assignment (not purporting to be by way of charge only) of shares by means of electronic communication with the following modifications—
(a)the reference in subsection (1) to writing under the hand of the assignor refers to an electronic communication made by the assignor or by his agent authorised in writing, and
(b)the reference in that subsection to express notice in writing refers to express notice by electronic communication to the company.
(2) Sub-paragraph (1) is of no effect in a particular case if the company refuses to register the transfer of shares which would, apart from this sub-paragraph, be made by the assignment in that case.
(3) Sub-paragraph (1) shall not affect any transfer or assignment which, apart from that sub-paragraph, would be effectual in law.
(4) This paragraph extends to England and Wales only.]
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