Central Bank Act, 1989.
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Electronic transfer of certain securities. |
139.—(1) Notwithstanding anything to the contrary contained in any enactment, or in any prospectus or other document, relating to the terms of issue, holding or transfer of designated securities, a transfer of such securities may be made and shall be effective if made through a computerised system established by the Bank. | |
(2) (a) In subsection (1) “designated securities” means securities which have been designated by the Minister for the purposes of that subsection either— | ||
(i) by particular reference to a security of a named type, or | ||
(ii) generally by reference to a class or classes of securities (including, where so designated, future issues of a class or classes of securities). | ||
(b) A designation for the purposes of subsection (1) shall not be effective until communicated in writing to the Bank. | ||
(3) Section 1 of the Stock Transfer Act, 1963 , is hereby amended by the addition of the following subsection: | ||
“(2) References in this Act to ‘a stock transfer’ shall, in addition to applying to an instrument under hand in a form set out in the First Schedule to this Act, be construed, where the context so allows, as including a transfer to which section 139 of the Central Bank Act, 1989, applies as if it were a transfer in a form so set out and in respect of which no brokers transfer is necessary.”. |