http://www.legislation.gov.uk/uksi/2017/1212/regulation/96
The Risk Transformation Regulations 2017
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Statute Law Database
FINANCIAL SERVICES AND MARKETS
2024-05-16
Expert Participation
2023-07-11
These Regulations make provision for transformer vehicles, within the meaning given by section 284A of the Financial Services and Markets Act 2001 (c. 8; section 284A was inserted by section 31 of the Bank of England and Financial Services Act 2016 (c. 14)). They are to be read with the Risk Transformation (Tax) Regulations 2017. Collectively, these Regulations facilitate and regulate the issue of insurance linked securities in the United Kingdom.
The Risk Transformation Regulations 2017
Regulations
Financial Services and Markets Act 2023
Sch. 1
Pt. 2
s. 1(4)
s. 86(3)
The Risk Transformation Regulations 2017
PART 4Protected Cell Companies
CHAPTER 9Shares and shareholders
SECTION 1Shares
Prohibition on bearer shares96
1
A protected cell company may not issue a bearer share.
2
A bearer share is a share evidenced by a share certificate, or by any other documentary evidence of title for which provision is made in the protected cell company's instrument of incorporation, which indicates—
a
that the holder of the document is entitled to the shares specified in it; and
b
that no entry will be made on the register of shareholders identifying the holder of those shares.