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Companies Act, 2008 (Act No. 71 of 2008)

Companies Regulations, 2011

Chapter 2 : Formation, Administration and Dissolution of Companies

Part E : Securities Registration and Transfer

33. Instruction to convert certificated securities into uncertificated securities

 

 

See section 49(7)

 

(1) An instruction to a company to convert certificated securities into uncertificated securities must be given by the holder of the certificated securities whose name is entered in the company's securities register as the holder of the certificated securities in question, or by an authorised agent of that person.

 

(2) A person who lodges certificated securities with a company, accompanied by an instruction referred to in sub-regulation (1), must do so in the manner and form prescribed in the rules of the Central Securities Depository and must provide complete and accurate information about the securities to be converted; and

 

(3) An action that—
(a) is taken by a person authorised to take that action, and carried out in accordance with the Act, regulation 34, and this regulation; and
(b) results in a consequence listed in section 55(1)(a) to (c),

is not "an unlawful action" as contemplated in section 55(1).