173 Registration of transfers

Except in the case of transfer by operation of law, it is unlawful for a company to register a transfer of shares unless a proper instrument of transfer has been delivered to the company1. The registration will not be unlawful if the transfer is an exempt transfer within the Stock Transfer Act 1982 or is in accordance with regulations made under the provisions in the Companies Act 2006 Sections 783 to 790 dealing with evidencing and transfer of securities without a written instrument. These regulations are likely to be of increasing importance as they may not

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