Irish Collective Asset-management Vehicles Act 2015
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Share certificates | ||
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39. (1) Subject to subsection (3), to Bank regulations and conditions imposed under section 27 , an ICAV shall prepare and have ready for delivery the certificates of all shares and debentures allotted or transferred, in accordance with its instrument of incorporation. | ||
(2) In subsection (1) “transfer” means a transfer that is (where appropriate) duly stamped and is otherwise valid, and does not include such a transfer as the ICAV is, for any reason, entitled to refuse to register and does not register. | ||
(3) Subsection (1) does not require an ICAV to prepare share certificates in the following circumstances: | ||
(a) where the ICAV’s instrument of incorporation states that share certificates will not be issued and contains provision for the issue of written confirmations of entry in the register of members; | ||
(b) where the shareholder has indicated to the ICAV in writing that the shareholder does not wish to receive a certificate. | ||
(4) If an ICAV fails to comply with subsection (1) the ICAV and any officer of it who is in default commits a category 3 offence. |