General
1. The instrument of incorporation of a company may contain provison as to share transfers in respect of any matter for which provision is not made in these Regulations or FCA rules.
2. Where any shares are transferred to the company, the company must cancel those shares.
3. [deleted]
Transfer of registered shares
(1) Where a transfer of shares is made by the person (if any) who is designated in the company’s instrument of incorporation for the purposes of this paragraph, the company may not register the transfer unless such evidence as the company may require to prove that the transfer has taken place has been delivered to the company.
(2) Where for any reason a person ceases to be designated for the purposes of this paragraph -
(a) any shares held by that person which are not disposed of on or before his ceasing to be so designated are to be deemed to be the subject of a new transfer to him which takes effect immediately after he ceases to be so designated;
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