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STOCK TRANSFER ACT (NORTHERN IRELAND) 1963

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - LONG TITLE

An Act to amend the law with respect to the transfer of
securities.
[15th October 1963]
Simplified transfer of securities.

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 1

1.(1) Registered securities to which this section applies may be
transferred by means of an instrument under hand in the form set
out in Schedule 1 (in this Act referred to as a stock transfer),
executed by the transferor only and specifying (in addition to the
particulars of the consideration, of the description and number or
amount of the securities, and of the person by whom the transfer
is made) the full name and address of the transferee.

(2) The execution of a stock transfer need not be attested; and
where such a transfer has been executed for the purpose of a stock
exchange transaction, the particulars of the consideration and of the
transferee may either be inserted in that transfer or, as the case
may require, be supplied by means of separate instruments in the
form set out in Schedule 2 (in this Act referred to as brokers
transfers), identifying the stock transfer and specifying the
securities to which each such instrument relates and the
consideration paid for those securities.

(3) Nothing in this section shall be construed as affecting the
validity of any instrument which would be effective to transfer
securities apart from this section; and any instrument purporting to
be made in any form which was common or usual before the
commencement of this Act, or in any other form authorised or
required for that purpose apart from this section, shall be
sufficient, whether or not it is completed in accordance with the
form, if it complies with the requirements as to execution and
contents which apply to a stock transfer.

(4) This section applies to fully paid up registered securities of
any description, being

(a)securities issued by any company within the meaning of the
Companies Act (Northern Ireland) 1960 except a company limited by
guarantee or an unlimited company;

(b)securities issued by any body (other than a company within the
meaning of the said Act) incorporated or deemed to be incorporated
in Northern Ireland by or under any enactment or by Royal Charter
except a building society registered under the Building Societies
Acts (Northern Ireland) 1874 to 1940 or a society registered under
the Industrial and Provident Societies Act 1893;

(c)securities issued by the Government of Northern Ireland, except
Ulster Savings Certificates and Ulster Development Bonds;

(d)securities issued by any local authority;

(e)units of a unit trust scheme, or other shares of the investments
subject to the trusts of such a scheme, being a scheme in the
case of which there is in force an order of the Ministry of
Commerce under section 16 of the Prevention of Fraud (Investments)
Act (Northern Ireland) 1940.

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 2
Supplementary provisions as to simplified transfer.

2.(1) Section 1 shall have effect in relation to the transfer of
any securities to which that section applies notwithstanding anything
to the contrary in any enactment or instrument relating to the
transfer of those securities; but nothing in that section affects

(a)any right to refuse to register a person as the holder of any
securities on any ground other than the form in which those
securities purport to be transferred to him; or

(b)any enactment or rule of law regulating the execution of
documents by companies or other bodies corporate, or any articles of
association or other instrument regulating the execution of documents
by any particular company or body corporate.

(2) Subject to the provisions of this section, any enactment or
instrument relating to the transfer of securities to which section 1
applies shall, with any necessary modifications, apply in relation to
an instrument of transfer authorised by that section as it applies
in relation to an instrument of transfer to which it applies apart
from this sub-section; and without prejudice to the generality of
the foregoing provision, the reference in section 79(1) of the
Companies Act (Northern Ireland) 1960 (certification of transfers) to
any instrument of transfer shall be construed as including a
reference to a brokers transfer.

(3) In relation to the transfer of securities by means of a stock
transfer and a brokers transfer

(a)any reference in any enactment or instrument (including in
particular section 75 of the Companies Act (Northern Ireland) 1960
and section 27(4) of the Finance (No. 2) Act (Northern Ireland)
1946) to the delivery or lodging of an instrument (or proper
instrument) of transfer shall be construed as a reference to the
delivery or lodging of the stock transfer and the brokers transfer;

(b)any such reference to the date on which an instrument of
transfer is delivered or lodged shall be construed as a reference
to the date by which the later of those transfers to be delivered
or lodged has been delivered or lodged; and

(c)subject to paragraphs (a) and (b), the brokers transfer (and not
the stock transfer) shall be deemed to be the conveyance or
transfer for the purposes of the enactments relating to stamp duty.

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 3
Additional provisions as to transfer forms.

3.(1) The Ministry of Finance may by order amend Schedules 1 and 2
either by altering the forms set out therein or by substituting
different forms for those forms or by the addition of forms for
use as alternatives to those forms; and references in this Act to
the forms set out in those Schedules (including references in this
section) shall be construed accordingly.

(2) Any order under sub-section (1) which substitutes a different
form for a form set out in Schedule 1 may direct that sub-section
(3) of section 1 shall apply, with any necessary modifications, in
relation to the form for which that form is substituted as it
applies to any form which was common or usual before the
commencement of this Act.

[(2A) An order under sub-section (1) may

(a)provide for forms on which some of the particulars mentioned in
sub-section (1) of section 1 are not required to be specified;

(b)provide for that section to have effect, in relation to such
forms as are mentioned in the preceding paragraph or other forms
specified in the order, subject to such amendments as are so
specified (which may include an amendment of the reference in
sub-section (1) of that section to an instrument under hand).]

(3) Any order of the Ministry of Finance under this section shall
be subject to affirmative resolution.

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 4
Interpretation, etc.

4. In this Act

"local authority" means [a district council ...] ...;

"registered securities" means transferable securities the holders of
which are entered in a register (whether maintained in Northern
Ireland or not);

"securities" means shares, stock, debentures, debenture stock, loan
stock, bonds, units of a unit trust scheme, or other shares of the
investments subject to the trusts of such a scheme, and other
securities of any description;

"stock exchange transaction" means a sale and purchase of securities
in which each of the parties is a member of a stock exchange
acting in the ordinary course of his business as such or is acting
through the agency of such a member;

"stock exchange" means the Belfast Stock Exchange and any other
stock exchange (whether in Northern Ireland or not) which is
declared by order of the Ministry of Finance to be a recognised
stock exchange for the purposes of this Act.

STOCK TRANSFER ACT (NORTHERN IRELAND) 1963 - SECT 5
Short title.

5.(1) This Act may be cited as the Stock Transfer Act (Northern
Ireland) 1963.

Subs.(2) rep. by SLR 1973

units of )

I/We hereby transfer the above security out of the name(s) aforesaid
to the person(s) named below or to the several persons named in
Parts 2 of Brokers Transfer Forms relating to the above security:

<1.

I/We request that such entries be made in the register as are
necessary to give effect to this transfer.

The security represented by the transfer overleaf has been sold as
follows:

< and request the necessary entries to be made in the register.

< is lodging this transfer at the direction and on behalf of the Member Firm whose stamp appears herein ("the Original Lodging Agent") and does not in any manner or to any extent warrant or represent the validity, genuineness or correctness of the transfer instructions contained herein or the genuineness of the signature(s) of the transferor(s). The Original Lodging Agent by delivering this transfer to < authorises < to lodge this transfer for registration and agrees to be deemed for all purposes to be the person(s) actually lodging this transfer for registration.

Stamp DutyTransfer NumberAbove this line for Registrar's use only

units of )

I/We confirm that the Stock Transfer Form relating to the security
set out above has been lodged with the Registrar, and that the
said security has been sold by me/us by a stock exchange
transaction within the meaning of the Stock Transfer Act (Northern
Ireland) 1963.






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URL: http://www.bailii.org/nie/legis/num_act/stai1963337.txt