Commentary on Sections Transfer of securities Section 19: Conversion and delisting
58.This section allows for the conversion and delisting of securities (the power applies to all of a specified bank’s securities, whether transferred or not).
59.A share transfer instrument or order may make provision, for example, for the conversion of securities from one form to another (to deal, for example, with the conversion of uncertificated or bearer securities into certificated securities or the conversion of a special class of shares into ordinary shares).
60.Subsection (2) provides that a share transfer instrument or order may make provision for discontinuing the listing of securities issued by the specified bank on a UK regulated market.