Transfer of securities requires dematerialisation, compliance with procedural rules, timed processing and certification filing. Regulation 40 requires listed entities to process transfers only for securities held in dematerialised form and to effect transmission and transposition in dematerialised form, to follow procedural requirements in Schedule VII, to refuse registration when statutory prohibitions or attachments restrain transfer or when a transferor objects (unless a prohibitory court order is produced within sixty working days), to maintain verifiable correspondence, to adhere to prescribed timelines (including fifteen days for registration or objections), and to obtain and file a practicing company secretary's certificate certifying timely issuance of certificates.