The Companies (Model Articles) Regulations 2008 No. 3229

SCHEDULE 3 U.K. MODEL ARTICLES FOR PUBLIC COMPANIES

PART 4 U.K. SHARES AND DISTRIBUTIONS

PARTLY PAID SHARES U.K.

Directors’ power to forfeit shares U.K.

59.  If a notice of intended forfeiture is not complied with before the date by which payment of the call is required in the notice of intended forfeiture, the directors may decide that any share in respect of which it was given is forfeited, and the forfeiture is to include all dividends or other moneys payable in respect of the forfeited shares and not paid before the forfeiture.

Commencement Information

I1 Sch. 3 art. 59 in force at 1.10.2009, see reg. 1