Companies Act 2014 section 984G

Representation of applicable securities

Section 984G confirms that a Designated Activity Company (DAC) retains the right to arrange for its applicable securities to be held in electronic book-entry form through a central securities depository.

• A DAC may arrange for its applicable securities to be represented in book-entry form through a central securities depository or its nominee.
• This can be achieved through immobilisation, where physical share certificates are converted into electronic records held centrally.
• Alternatively, it can be achieved through dematerialisation, where securities are issued directly in electronic form without any physical certificates ever being produced.
• Nothing else in this Chapter of the Companies Act restricts or affects a DAC's ability to use either of these methods.