New Clause 49
Company Law Reform Bill [Lords]
1:45 pm
Transferability of shares
‘(1) The shares or other interest of any member in a company are transferable in accordance with the company’s articles.
(2) This is subject to—
(a) the Stock Transfer Act 1963 (c. 18) or the Stock Transfer Act (Northern Ireland) 1963 (c.24(N.I.)) (which enables securities of certain descriptions to be transferred by a simplified process), and
(b) regulations under Chapter (Evidencing and transferring title to securities without written instrument) of Part (Certification and transfer of securities) of this Act (which enable title to securities to be evidenced and transferred without a written instrument).
(3) See Part 21 of this Act generally as regards share transfers.’.—[Margaret Hodge.]