Source: http://www.legislation.gov.uk/nisi/1986/1032/article/447
Timestamp: 2020-07-11 09:40:16
Document Index: 443238650

Matched Legal Cases: ['art. 447', 'art. 447', 'art. 447', 'art. 447', 'art. 12', 'art. 447', 'art. 12', 'art. 447', 'art. 12']

Changes and effects yet to be applied to Article 447:
art. 447(1) words substituted by S.I. 2007/2194 Sch. 4 para. 27(3)
art. 447(2) words substituted by S.I. 2007/2194 Sch. 4 para. 27(4)
art. 447(3) words substituted by S.I. 2007/2194 Sch. 4 para. 27(5)
447.—(1) So long as any shares are directed to be subject to the restrictions of this Part[F1 then, subject to any directions made in relation to an order [F2pursuant to Article 438(1A) or 449(1A)]]
(2) Where shares are subject to the restrictions of paragraph (1)(a), any agreement to transfer the shares or, in the case of unissued shares, the right to be issued with them is void (except[F1 such agreement or right as may be made or exercised under the terms of directions made by the Department or the court under [F3Article 438(1A) or 449(1A)] or] an agreement to[F4 transfer] the shares on the making of an order under Article 449(3)(b)).
(3) Where shares are subject to the restrictions of paragraph (1)(c) or (d), an agreement to transfer any right to be issued with other shares in right of those shares, or to receive any payment on them (otherwise than in a liquidation) is void (except[F1 such agreement or right as may be made or exercised under the terms of directions made by the Department or the court under [F5Article 438(1A) or 449(1A)] or] an agreement to transfer any such right on the[F4 transfer] of the shares on the making of an order under Article 449(3)(b)).
F2Words in art. 447(1) substituted (1.10.2007) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 27(3) (with art. 12)
F3Words in art. 447(2) substituted (1.10.2007) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 27(4) (with art. 12)
F5Words in art. 447(3) substituted (1.10.2004) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 27(5) (with art. 12)