203. Notwithstanding any inconsistent legislative provision, the securities of the Community may be issued in the following forms or as a combination thereof:
(1) fully registered securities;
(2) securities that may be registered only for the principal; or
(3) securities payable to the bearer.
The Community may prescribe the mode of transfer or negotiation of its securities and the formalities to be fulfilled for that purpose. However, a bearer security is negotiable by mere delivery and is not subject to registration unless otherwise stipulated.