Companies Act 2014 section 1087B

Share certificates

Section 1087B provides an exemption from the normal requirement to issue share certificates where relevant securities are held through a central securities depository.

• A relevant issuer is not required to issue share certificates for relevant securities registered in the name of a central securities depository or its nominee.
• This overrides the general obligation under section 99(2) to provide share certificates.
• Title to the relevant securities is instead evidenced by recording the depository's (or its nominee's) name and address in the issuer's register of members.
• The provision was introduced as part of consequential measures following the withdrawal of the United Kingdom from the European Union.