Companies Act 2014 section 984D

Transfer of applicable securities of DAC

Section 984D removes the requirement for a written instrument of transfer when applicable securities of a designated activity company are transferred to, from, or between central securities depositories.

• No written transfer document is needed when a central securities depository (or its nominee) transfers applicable securities to a holder of rights or interests in those securities.
• No written transfer document is needed when applicable securities are transferred between one central securities depository (or its nominee) and another.
• No written transfer document is needed when a holder of rights or interests in applicable securities transfers them to a central securities depository (or its nominee).
• This exemption overrides the general transfer requirements in section 94 of the Companies Act 2014, the Stock Transfer Act 1963, and any other enactment.