PART 4Protected Cell Companies

CHAPTER 9Shares and shareholders

SECTION 2Issue, allotment and alteration of share capital

Numbering of shares101.

(1)

Each share issued on behalf of a part of protected cell company must be distinguished by its appropriate number, except in the following circumstances.

(2)

A share issued on behalf of a part of a protected cell company need not have a distinguishing number provided—

(a)

all the shares issued on behalf of that part are fully paid up and rank pari passu for all purposes; or

(b)

all the shares issued on behalf of that part and belonging to the same class as that share are fully paid up and rank pari passu for all purposes.