Part 8A company's members
Chapter 2Register of members
Special cases
122Share warrants
F1(1)
Until a share warrant issued by a company is surrendered the following are deemed to be the particulars required to be entered in the register of members in respect of the warrant—
(a)
the fact of the issue of the warrant,
(b)
a statement of the shares included in the warrant, distinguishing each share by its number so long as the share has a number, and
(c)
the date of the issue of the warrant.
(3)
The bearer of a share warrant may, if the articles of the company so provide, be deemed a member of the company within the meaning of this Act, either to the full extent or for any purposes defined in the articles.
F2(4)
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(5)
The company is responsible for any loss incurred by any person by reason of the company entering in the register the name of a bearer of a share warrant in respect of the shares specified in it without the warrant being surrendered and cancelled.
(6)
On the surrender of a share warrant, the date of the surrender must be entered in the register.