Stock Transfer Act 1963

1 Simplified transfer of securities. U.K.

(1) Registered securities to which this section applies may be transferred by means of an instrument under hand in the form set out in Schedule 1 to this Act (in this Act referred to as a stock transfer), executed by the transferor only and specifying (in addition to the particulars of the consideration, of the description and number or amount of the securities, and of the person by whom the transfer is made) the full name and address of the transferee.

(2) The execution of a stock transfer need not be attested; and where such a transfer has been executed for the purpose of a stock exchange transaction, the particulars of the consideration and of the transferee may either be inserted in that transfer or, as the case may require, supplied by means of separate instruments in the form set out in Schedule 2 to this Act (in this Act referred to as brokers transfers), identifying the stock transfer and specifying the securities to which each such instrument relates and the consideration paid for those securities.

(3) Nothing in this section shall be construed as affecting the validity of any instrument which would be effective to transfer securities apart from this section; and any instrument purporting to be made in any form which was common or usual before the commencement of this Act, or in any other form authorised or required for that purpose apart from this section, shall be sufficient, whether or not it is completed in accordance with the form, if it complies with the requirements as to execution and contents which apply to a stock transfer.

(4) This section applies to fully paid up registered securities of any description, being—

(a) securities issued by any company within the meaning of the [F1 Companies Act 1985] except a company limited by guarantee or an unlimited company;

(b) securities issued by any body (other than a company within the meaning of the said Act) incorporated in Great Britain by or under any enactment or by Royal Charter except a building society within the meaning of the M1 Building Societies Act [F2 1986] or a society registered under [F3 the M2 Industrial and Provident Societies Act 1965;]

(c) securities issued by the Government of the United Kingdom, except stock or bonds in the [F4 the National Savings Stock Register] . . . F5 , and except national savings certificates;

(d) securities issued by any local authority;

[F6 (e) units of an authorised unit trust scheme or a recognised scheme within the meaning of the Financial Services Act 1986].

Textual Amendments

F1 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), ss. 21, 23, 30, 31(8), Sch. 2

F2 “1986” substituted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120, Sch. 18 Pt. I para. 5

F3 Words substituted by virtue of Interpretation Act 1889 (c. 63), s. 38(1)

F4 Words substituted by Post Office Act 1969 (c. 48), s. 108(1)(f)

F5 Words repealed by Finance Act 1964 (c. 49), Sch. 9

F6 S. 1(4)(e) substituted by Financial Services Act 1986 (c. 60, SIF 69), s. 212(2), Sch. 16 para. 4(a)

Modifications etc. (not altering text)

C1 S. 1 amended by S.I. 1979/277, art. 3

C2 S. 1 modified by S.I. 1990/18, art. 4

C3 S. 1(3) modified by S.I. 1990/18, art. 3

Marginal Citations

M1 1986 c.53.

M2 1965 c. 12.