Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IV : Custody and Administration of SecuritiesUncertificated securities37. Uncertificated securities |
| (1) | Certificated securities may be converted to uncertificated securities and an issuer may issue uncertificated securities despite any contrary provision in— |
| (a) | any other law; |
| (b) | the common law; |
| (c) | an agreement; |
| (d) | the articles of association of an issuer; |
| (e) | a prospectus; or |
| (f) | any other conditions applicable to the issuing of securities. |
| (2) | An issuer and a central securities depository and its participants must make arrangements in accordance with depository rules for uncertificated securities to be evidenced by way of entry. |
| (3) | An issuer has the same obligations in respect of uncertificated securities as it has in respect of certificated securities except that no certificate or written instrument is issued in respect of uncertificated securities. |