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 M1 or the Stock Transfer Act (Northern Ireland) 1963 M2 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

Marginal citations

M1: 1963 c. 18.
M2: 1963 c. 24 (N.I.).