Companies Act 2014 section 1087C

Written instrument of transfer

Section 1087C removes the requirement for a written instrument of transfer when moving relevant securities into, out of, or between central securities depositories.

• No written transfer document is needed to move relevant securities from a central securities depository (or its nominated body) to any holder of rights or interests in those securities.
• No written transfer document is needed to move relevant securities from one central securities depository (or its nominated body) to another central securities depository (or its nominated body).
• No written transfer document is needed to move securities in the relevant issuer from any holder of rights or interests in those securities to a central securities depository (or its nominated body).
• These exemptions from the written instrument requirement apply regardless of section 94(4) of the Companies Act 2014, section 2(1) of the Stock Transfer Act 1963, or any other enactment, and each transfer may occur more than once.