707. Duty Of Company As To Issue Of Certificates Etc On Allotment
Past version: effective from 29/04/2020 - 28/04/2020
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(1) A company must, within two months after the allotment of any of its shares or debentures complete and have ready for delivery -
(a) the certificates of the shares allotted, or
(b) the debentures allotted.
(2) Subsection (1) does not apply-
(a) if the conditions of issue of the shares or debentures provide otherwise, or
(b) in the case of allotment to a infrastructure body (see section 715).
(3) If default is made in complying with subsection (1) a contravention of these Regulations is committed by every officer of the company who is in default.
(4) A person who contravenes these Regulations under subsection (3) is liable to a level 2 fine.