Regulation 15 Mode of transfer of stockI1

Subject to paragraph (3) below, stock shall be transferable by instrument in writing in accordance with the Stock Transfer Act 1963^f1 delivered to the Registrar, and the Registrar shall retain any such instrument delivered to him.

Any instrument which the Registrar shall retain in accordance with the preceding paragraph may be destroyed at any time following the expiration of twelve years after the date of entry in the register of such particulars as are requisite to show the effect of the instrument.

Units of stock, which are recorded on a register kept by the Operator of a relevant system under the 2001 Regulations, shall be transferable in no other manner than by means of that system in accordance with the 2001 Regulations.

A strip shall be transferable in no other manner than by means of a relevant system operated by an Operator in accordance with the 2001 Regulations.