(1) With effect from the date of dematerialisation and despite the provisions of the Companies Code or the Regulations of the issuer, a reference in respect of a dematerialised security to

(a) a register of members or debenture holders including branch registers, maintained by a company under the Companies Code is a reference to the record of depositors maintained by the depository,

(b) a transfer of shares or debentures under the Companies Code is a reference to a book-entry transfer performed by the depository, and

(c) a certificate, or an instrument of transfer representing any security which is used as prima facie evidence of ownership of that security is a reference to a statement of account issued by the central securities depository