C3C4Part 21Certification and transfer of securities
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Chapter 1Certification and transfer of securities: general
Issue of certificates etc on allotment
C1C2769Duty of company as to issue of certificates etc on allotment
1
A company must, within two months after the allotment of any of its shares, debentures or debenture stock, complete and have ready for delivery—
a
the certificates of the shares allotted,
b
the debentures allotted, or
c
the certificates of the debenture stock allotted.
2
Subsection (1) does not apply—
a
if the conditions of issue of the shares, debentures or debenture stock provide otherwise,
b
in the case of allotment to a financial institution (see section 778), or
c
in the case of an allotment of shares if, following the allotment, the company has issued a share warrant in respect of the shares (see section 779).
3
If default is made in complying with subsection (1) an offence is committed by every officer of the company who is in default.
4
A person guilty of an offence under subsection (3) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
Pt. 21 applied (with modifications) (8.00 a.m. on 29.9.2008) by The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008 (S.I. 2008/2546), art. 4(7)