Section 20Part 3 — Beneficial Ownership RegisterAmended
Effect of restrictions notice
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Amended by Supplement No. 1, Gazette No. 3 of 2026 on 23 Jan 2026 — commenced 21 Jan 2026 (Supplement No. 1, Gazette No. 3 of 2026)
The effect of a restrictions notice with respect to a relevant interest is as follows —
any transfer or agreement to transfer the relevant interest is void;
no rights are exercisable in respect of the relevant interest;
no relevant interests may be issued in respect of the relevant interest or in pursuance of an offer made to the person holding the relevant interest;
other than in a liquidation, no pa yment may be made of sums due from the legal person in respect of the relevant interest, whether in respect of capital or otherwise; and
other than in a liquidation, an agreement to transfer any of the following associated rights in relation to the rel evant interest is void —
a right to be issued with any shares issued in respect of the relevant interest; or
a right to receive payment of any sums due from the legal person in respect of the relevant interest.
This section does not apply to an agreement to transfer a relevant interest referred to in subsection (1)
or to an associated right referred to in subsection (1)(e), if the agreement results from the making of an order referred to in section 21(4)
.