SCHEDULES

SCHEDULE 4Abolition of share warrants to bearer

PART 1Arrangements for conversion and cancellation of existing share warrants

Offences

18

1

A person guilty of an offence under paragraph 1(5) of this Schedule is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.

2

A person guilty of an offence under any other provision of this Schedule is liable—

a

on conviction on indictment, to a fine;

b

on summary conviction—

i

in England and Wales, to a fine;

ii

in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum.