Companies Act 2014 section 1087

Supplemental provisions in relation to section 1086

Section 1087 sets out safeguards and supplementary rules that apply to regulations made under section 1086 concerning the transfer of uncertificated securities, ensuring that existing entitlements are protected and that the Minister has appropriate powers to implement and delegate the new procedures.

• Regulations must not remove a person's existing right to have their name entered on a company's register of members or to give instructions regarding securities
• The Minister may include supplementary, incidental and transitional provisions as considered necessary or expedient
• Regulations may address transmission of title by operation of law, restrictions on transfer arising from legislation, court orders or agreements, and powers to deal with securities on behalf of entitled persons
• The Minister may designate who is responsible for operating the new procedures and may delegate ministerial functions to any willing and able person