Companies Act 2014 section 984

Uncertificated transfer of securities

Section 984 extends the rules on uncertificated transfer of securities, which were originally set out for Public Limited Companies, so that they also apply to Designated Activity Companies.

• Sections 1085 to 1087 of the Companies Act 2014 govern the transfer of uncertificated securities for PLCs.
• Section 984 applies these same provisions to securities of a Designated Activity Company (DAC).
• This ensures DACs follow the same rules as PLCs when transferring securities in uncertificated (i.e. paperless or electronic) form.
• No additional or modified requirements are imposed on DACs — the PLC rules apply directly and without amendment.