Companies Act 2014 section 101C

Transfer of applicable securities of company

Section 101C removes the requirement for a written instrument of transfer when applicable securities are transferred to, from, or between central securities depositories.

• No written transfer document is needed when applicable securities move to or from a central securities depository (or its nominee) and a holder of rights or interests in those securities.
• Transfers between different central securities depositories (or their nominees) also do not require a written instrument of transfer.
• This provision overrides the general transfer requirements in section 94 of the Companies Act 2014, the Stock Transfer Act 1963, and any other enactment.
• The section facilitates the electronic settlement of securities through dematerialised (paperless) systems operated by central securities depositories.