Companies Act 2014 section 984F

Disapplication of requirement for certificate in respect of applicable securities

Section 984F removes any obligation to issue paper certificates for applicable securities of a Designated Activity Company (DAC), regardless of where such a requirement may have been established.

• Any requirement for a paper certificate relating to applicable securities of a DAC is disapplied, no matter where that requirement originates.
• This covers requirements found in a DAC's constitution, in resolutions passed by the DAC, its directors, or its securities holders, and in the original terms of issue of the securities.
• The disapplication applies whether the certificate requirement was expressly stated or merely implied in any of those documents or decisions.
• This provision supports the move to dematerialised (paperless) securities by ensuring that no legacy document or decision can override the new framework.