707. Duty of company as to issue of certificates etc on allotment

(1) A company must, within two months after the allotment of any of its shares or debentures complete and have ready for delivery—
(a) the certificates of the shares allotted, or
(b) the debentures allotted.
(2) Subsection (1) does not apply—
(a) if the conditions of issue of the shares or debentures provide otherwise, or
(b) in the case of allotment to a financial institution (see section 715).
(3) If default is made in complying with subsection (1) a contravention of these Regulations is committed by every officer of the company who is in default.
(4) A person who contravenes these Regulations under subsection (3) is liable to a level 2 fine.