Section 229Part 14 — Segregated Portfolio Companies
Issue of bearer shares prohibited
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Notwithstanding any provision in this A ct to the contrary, a company incorporated under this Act shall not issue bearer shares.
In relation to a company which has been struck off the companies register, subsection (1) applies to that company if the company is reinstated.
An order of the Court shall not permit a company which has been struck off the companies register to be reinstated with bearer shares in issue.
Bearer shares issued prior to the commencement of the Companies (Amendment) (No. 3) Act, 2020 [Act 60 of 2020] or issued contrary to subsection (1) shall be void.