THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.13 - TITLE TO, AND TRANSFER OF, SECURITIES

Division 1 - Title to securities

SECTION 1086   NUMBERING SHARES  

1086(1)  (Distinguishing number)  

Each share in a company shall be distinguished by an appropriate number.

1086(2)  (Exceptions)  

Despite subsection (1):

(a)  if at any time all the issued shares in a company, or all the issued shares in a company of a particular class, are fully paid up and rank equally for all purposes, none of those shares is required to have a distinguishing number so long as each of those shares remains fully paid up and ranks equally for all purposes with all shares of the same class for the time being issued and fully paid up; and

(b)  if all the issued shares in a company are evidenced by certificates in accordance with the provisions of section 1087, each certificate is distinguished by an appropriate number and that number is recorded in the register of members, none of those shares is required to have a distinguishing number; and

(c)  a share need not have a distinguishing number if the SCH business rules provide that it need not have such a number.

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