Regulation 120 Meaning of “transfer documents”

(1)

In this Section, “transfer documents” means—

(a)

one or more of the documents falling within Category 1;

(b)

one or more of the documents falling within Category 2; and

(c)

such other evidence (if any) as the protected cell company may require to prove—

(i)

the right of the transferor to transfer the shares in question; or

(ii)

the eligibility of the transferee to acquire the shares in question.

(2)

The following documents fall within Category 1—

(a)

a stock transfer form within the meaning of the Stock Transfer Act 1963^f1 or the Stock Transfer Act (Northern Ireland) 1963^f2 which complies with the requirements of the relevant Act as to the execution and contents of a stock transfer;

(b)

an order made by the court under regulation 175 (application for court order sanctioning transfer scheme) or 177 (effect of court order sanctioning transfer scheme) for the transfer of shares;

(c)

any other instrument of transfer as is authorised by, and completed and executed in accordance with, any requirement in the protected cell company’s instrument of incorporation;

(3)

The following documents fall within Category 2—

(a)

a share certificate relating to the shares in question;

(b)

if the shares in question fall within sub-paragraph (a) or (b) of regulation 110(1), such evidence of title to those shares as is required by the protected cell company’s instrument of incorporation.

Annotations

Footnotes

f1: 1963 c. 18.
f2: 1963 c. 24 (N.I.).