(1) Section 776(1) (duty of company as to issue of certificates etc on transfer) does not apply in the case of a transfer to a person where, by virtue of regulations under section 3 of the Stock Transfer Act 1982, he is not entitled to a certificate or other document of or evidencing title in respect of the securities transferred.
(2) But if in such a case the transferee—
(a) subsequently becomes entitled to such a certificate or other document by virtue of any provision of those regulations, and
(b) gives notice in writing of that fact to the company,
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