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Companies Act 2006
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act amendment to earlier affecting provision S.I. 1989/638, Sch. 4 by S.I. 2024/410 Sch. 2 para. 1
- Act amendment to earlier affecting provision S.I. 2008/373 reg. 11(1) by S.I. 2013/1971 reg. 9(a) (This amendment not applied to legislation.gov.uk. Amending Regulations revoked (1.10.2013) without ever being in force by S.I. 2013/2224, reg. 2)
- Act amendment to earlier affecting provision S.I. 2008/373 reg. 3(4) by S.I. 2013/1971 reg. 4 (This amendment not applied to legislation.gov.uk. Amending Regulations revoked (1.10.2013) without ever being in force by S.I. 2013/2224, reg. 2)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 156A-156C inserted by 2015 c. 26 s. 87(4)
- s. 156B(5) omitted by 2023 c. 56 Sch. 2 para. 26
- s. 156C(2) words substituted by 2023 c. 56 s. 41(2)(a)
- s. 156C(2A) inserted by 2023 c. 56 s. 41(2)(b)
- s. 156C(3) substituted for s. 156C(3)-(5) by 2023 c. 56 Sch. 2 para. 27
- s. 479A(2)(c)(zi) inserted by S.I. 2019/177 reg. 4(b)(i) (This amendment not applied to legislation.gov.uk. Reg. 4 substituted by regs. 4, 4A immediately before IP completion day by S.I. 2019/1392, regs. 1(2), 4)
- s. 479B(a)(iii) amendment to earlier affecting provision S.I.2008/1991 reg.34 by S.R. 2024/78 reg. 31(4)
- s. 479B(a)(iii) amendment to earlier affecting provision S.I.2008/1991 reg.34A by S.R. 2024/78 reg. 31(5)
- s. 1047(4)(i)(j) inserted by 2023 c. 56 s. 21(2)
- s. 1087(da) substituted by 2023 c. 56 s. 52(2)
- s. 1087A-1807C applied by S.I. 2009/2436, Sch. 1 para. 20(1)(ca) (as substituted) by S.I. 2024/410 Sch. 2 para. 5(d)(ii)
- s. 1110E-110G applied by S.I. 2009/1804, reg. 60 (as amended) by S.I. 2024/234 reg. 26
- s. 11989A applied (with modifications) by S.I. 2009/1804, reg. 79A (as inserted) by S.I. 2024/234 reg. 46
- Sch. 10 para. 6(2D) inserted by S.I. 2019/177 reg. 28(e) (This amendment not applied to legislation.gov.uk. Reg. 28(e) omitted immediately before IP completion day by virtue of S.I. 2020/523, regs. 1(2), 14(e)(iv))
- Sch. 10 para. 7(2A) inserted by S.I. 2019/177 reg. 29(b) (This amendment not applied to legislation.gov.uk. Reg. 29 substituted immediately before IP completion day by S.I. 2020/523, regs. 1(2), 14(f))
785Provision enabling procedures for evidencing and transferring titleU.K.
This section has no associated Explanatory Notes
(1)Provision may be made by regulations for enabling title to securities to be evidenced and transferred without a written instrument.
(2)The regulations may make provision—
(a)for procedures for recording and transferring title to securities, and
(b)for the regulation of those procedures and the persons responsible for or involved in their operation.
(3)The regulations must contain such safeguards as appear to the authority making the regulations appropriate for the protection of investors and for ensuring that competition is not restricted, distorted or prevented.
(4)The regulations may, for the purpose of enabling or facilitating the operation of the procedures provided for by the regulations, make provision with respect to the rights and obligations of persons in relation to securities dealt with under the procedures.
(5)The regulations may include provision for the purpose of giving effect to—
(a)the transmission of title to securities by operation of law;
(b)any restriction on the transfer of title to securities arising by virtue of the provisions of any enactment or instrument, court order or agreement;
(c)any power conferred by any such provision on a person to deal with securities on behalf of the person entitled.
(6)The regulations may make provision with respect to the persons responsible for the operation of the procedures provided for by the regulations—
(a)as to the consequences of their insolvency or incapacity, or
(b)as to the transfer from them to other persons of their functions in relation to those procedures.
[F1(7)The regulations may confer functions on any person, including—
(a)the function of giving guidance or issuing a code of practice in relation to any provision made by the regulations, and
(b)the function of making rules for the purposes of any provision made by the regulations.
(8)The regulations may, in prescribed cases, confer immunity from liability in damages.]
Textual Amendments
F1S. 785(7)(8) inserted (24.1.2013 for specified purposes; 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 112, 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b), Sch. Pt. 2; S.I. 2013/423, art. 3, Sch.
Commencement Information
I1S. 785 wholly in force at 6.4.2008; s. 785 not in force at Royal Assent, see s. 1300; s. 785 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 785 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(i) (with savings in arts. 7, 12, subject to transitional adaptations in Sch. 1 para. 13 and with savings in Sch. 4 paras. 30-31)
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