Section 40Part 3 — Distribution of Capital and Liability of MembersAmended
Transfer and registration of shares in respect of a company with listed shares
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Amended by LG10/S1
Title to l isted shares of a company may, if so authorised by such company ’ s articles of association, or (in the absence of any applicable provisions in the company ’ s articles of association) by a special resolution of such company, be evidenced and transferred in accordance with the laws applicable to and the rules and regulations of the relevant approved stock exchange that are or shall be applicable to such listed shares as referred to or specified in such articles of association or special resolution.
For th e purposes of subsection (1), the laws applicable to an approved stock exchange include, without limitation, the laws of the jurisdiction under which such approved stock exchange is established in so far as they would apply to an entity established under s uch laws which has listed shares on such approved stock exchange.
Any register of members maintained by a company in respect of its listed shares may be kept by recording the particulars required by section 40 in a form otherwise than legible if such recording otherwise complies with the laws applicable to and the rules and regulations of the relevant approved stock exch ange referred to in subsection (1).
To the extent the listed shares register is kept in a form otherwise than legible it must be capable of being reproduced in a legible form.
A company which maintains a listed shares register must also maintain, i n respect of any shares which are not listed shares, a separate register of members in accordance with section 40 .
Re ferences in any enactment or instrument to a company ’ s register of members shall, unless the context otherwise requires, be construed in relation to a company which maintains any listed shares register as referring to each of such company ’ s listed shares r egister and, if any, its non - listed shares register.
For the purposes of this section — “ approved stock exchange ” means a stock exchange listed in