Marketable Securities Act 1970
5Transfers of marketable securities
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5 Transfers of marketable securities
5 Transfers of marketable securities
(1) A document is a sufficient instrument of transfer of marketable securities if:
(a) it is an instrument relating to those marketable securities duly completed in accordance with or to the effect of:
(i) Form One,
(ii) Part 1 of Form One and Parts 1 and 2 of Form Two, or
(iii) Part 1 of Form One and Parts 1 and 2 of Form Three, and
(b) where the document relates to marketable securities on which there is an uncalled liability (not being marketable securities that are partly paid shares in a no-liability company), the transferee’s acceptance of the marketable securities duly completed in accordance with or to the effect of Form Four is included in or attached to the instrument referred to in paragraph (a).
(2) A document is a sufficient instrument of transfer of rights to marketable securities if:
(a) it is an instrument relating to those rights duly completed in accordance with or to the effect of:
(i) Form Five,
(ii) Part 1 of Form Five and Parts 1 and 2 of Form Six, or
(iii) Part 1 of Form Five and Parts 1 and 2 of Form Seven, and
(b) where the document relates to rights to marketable securities (not being marketable securities that are shares in a no-liability company) for which the whole of the moneys to be subscribed is not payable in full on application being made for them, the transferee’s acceptance of the securities duly completed in accordance with or to the effect of Form Four is included in or attached to the instrument referred to in paragraph (a).
(3) For the purposes of this section an instrument is not duly completed in accordance with or to the effect of Form One, Two, Three, Five, Six or Seven or a part of one of those forms unless:
(a) where the form or part refers to the name and address of the transferee, the instrument purports to state that name and address,
(b) where the form or part refers to the stamp of the transferor’s broker, the instrument bears a stamp which purports to be such a stamp,