Extracts from Companies Act 2006 and other statutory provisions
769 Duty of company as to issue of certificates etc on allotment
- A company must, within two months after the allotment of any of its shares, debentures or debenture stock, complete and have ready for delivery -
- the certificates of the shares allotted,
- the debentures allotted, or
- the certificates of the debenture stock allotted.
- Subsection (1) does not apply -
- if the conditions of issue of the shares, debentures or debenture stock provide otherwise,
- in the case of allotment to a financial institution (see section 778), or
- in the case of an allotment of shares if, following the allotment, the company has issued a share warrant in respect of the shares (see section 779).
- If default is made in complying with subsection (1) an offence is committed by every officer of the company who is in default.
- A person guilty of an offence under subsection (3) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.