numbering share certificates Resident Management Company
Posted: August 13th, 2019, 3:54 pm
Currently a disagreement about this .
Management Company made up of 3 leaseholders each holding one share and having a share certificate .The shares are equal in value - £1 each .
This extract seems to suggest that numbering the certificates is not necessary . Is that correct ?
https://www.legislation.gov.uk/ukpga/2006/46/part/17
543Numbering of shares
(1)Each share in a company having a share capital must be distinguished by its appropriate number, except in the following circumstances.
(2)If at any time—
(a)all the issued shares in a company are fully paid up and rank pari passu for all purposes, or
(b)all the issued shares of a particular class in a company are fully paid up and rank pari passu for all purposes,
none of those shares need thereafter have a distinguishing number so long as it remains fully paid up and ranks pari passu for all purposes with all shares of the same class for the time being issued and fully paid up.
Management Company made up of 3 leaseholders each holding one share and having a share certificate .The shares are equal in value - £1 each .
This extract seems to suggest that numbering the certificates is not necessary . Is that correct ?
https://www.legislation.gov.uk/ukpga/2006/46/part/17
543Numbering of shares
(1)Each share in a company having a share capital must be distinguished by its appropriate number, except in the following circumstances.
(2)If at any time—
(a)all the issued shares in a company are fully paid up and rank pari passu for all purposes, or
(b)all the issued shares of a particular class in a company are fully paid up and rank pari passu for all purposes,
none of those shares need thereafter have a distinguishing number so long as it remains fully paid up and ranks pari passu for all purposes with all shares of the same class for the time being issued and fully paid up.