STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 2 Supplementary provisions as to simplified transfer.

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STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 2

Supplementary provisions as to simplified transfer.

2.(1) Section 1 shall have effect in relation to the transfer of any
securities to which that section applies notwithstanding anything to the
contrary in any enactment or instrument relating to the transfer of those
securities; but nothing in that section affects

(a)any right to refuse to register a person as the holder of any securities on
any ground other than the form in which those securities purport to be
transferred to him; or

(b)any enactment or rule of law regulating the execution of documents by
companies or other bodies corporate, or any articles of association or other
instrument regulating the execution of documents by any particular company or
body corporate.

(2) Subject to the provisions of this section, any enactment or instrument
relating to the transfer of securities to which section 1 applies shall, with
any necessary modifications, apply in relation to an instrument of transfer
authorised by that section as it applies in relation to an instrument of
transfer to which it applies apart from this sub-section; and without
prejudice to the generality of the foregoing provision, the reference in
section 79(1) of the Companies Act (Northern Ireland) 1960 (certification of
transfers) to any instrument of transfer shall be construed as including a
reference to a brokers transfer.

(3) In relation to the transfer of securities by means of a stock transfer and
a brokers transfer

(a)any reference in any enactment or instrument (including in particular
section 75 of the Companies Act (Northern Ireland) 1960 and section 27(4) of
the Finance (No. 2) Act (Northern Ireland) 1946) to the delivery or lodging of
an instrument (or proper instrument) of transfer shall be construed as a
reference to the delivery or lodging of the stock transfer and the brokers
transfer;

(b)any such reference to the date on which an instrument of transfer is
delivered or lodged shall be construed as a reference to the date by which the
later of those transfers to be delivered or lodged has been delivered or
lodged; and

(c)subject to paragraphs (a) and (b), the brokers transfer (and not the stock
transfer) shall be deemed to be the conveyance or transfer for the purposes of
the enactments relating to stamp duty.

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Northern Irish Legislation

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 2