1087C. Notwithstanding section 94(4), section 2 (1) of the Stock Transfer Act 1963or any other enactment, a written instrument of transfer shall not be necessary to transfer title (which transfer may occur more than once) to—

(a) relevant securities from a central securities depository (or, as the case may be, a body nominated by that depository) to any holder of the rights or interests in those securities,

(b) relevant securities from one central securities depository (or, as the case may be, a body nominated by that depository) to another central securities depository (or, as the case may be, a body nominated by that depository), or

(c) securities in the relevant issuer to the central securities depository (or, as the case may be, a body nominated by that depository) from any holder of the rights or interests in those securities.]