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Shares in a company can be issued as certificated shares or uncertificated shares. Generally, shares issued by private companies and unlisted public companies are usually held in certificated form while shares in listed companies and AIM companies are usually held in uncertificated form.

Shares in a company are held in certificated form if:

1. •

   the company has issued a physical share certificate for the shares, and

2. •

   the owner of the shares has their name entered in the company's register of members

Every company is required by the Companies Act 2006 (CA 2006) to keep a register of members recording the name and address of each member, the number of shares held, and the amount paid up on the shares. A company must issue a share certificate (that meets the requirements of CA 2006) to a person on their becoming a member through an allotment or transfer of shares within two months of the allotment or the date on which the transfer is lodged