Part 21Certification and transfer of securities

Chapter 2Evidencing and transfer of title to securities without written instrument

Introductory

783Scope of this Chapter

In this Chapter—

a

“securities” means shares, debentures, debenture stock, loan stock, bonds, units of a collective investment scheme within the meaning of the Financial Services and Markets Act 2000 (c. 8) and other securities of any description;

b

references to title to securities include any legal or equitable interest in securities;

c

references to a transfer of title include a transfer by way of security;

d

references to transfer without a written instrument include, in relation to bearer securities, transfer without delivery.

784Power to make regulations

1

The power to make regulations under this Chapter is exercisable by the Treasury and the Secretary of State, either jointly or concurrently.

2

References in this Chapter to the authority having power to make regulations shall accordingly be read as references to both or either of them, as the case may require.

3

Regulations under this Chapter are subject to affirmative resolution procedure.