Companies Act 2014 section 984C

Abolition of certificates in respect of applicable securities

Section 984C abolishes the requirement to issue share certificates for applicable securities and removes the legal effect of any existing certificates.

• Relevant issuers are no longer required to issue certificates for applicable securities, regardless of any obligation under the Companies Act 2014 or any other legislation.
• Any certificates that have already been issued for applicable securities no longer have any legal effect.
• Existing certificates cannot be used as evidence of ownership of applicable securities or for any other legal purpose.
• This provision supports the move to a fully dematerialised (paperless) securities system in line with the European Union (Dematerialised Securities) Regulations 2023.