Small Business, Enterprise and Employment Act 2015

Right of surrender during surrender period

2 (1) A company must, as soon as reasonably practicable and in any event before the end of the period of 1 month beginning with the commencement date, give notice to the bearer of a share warrant issued by the company of—

(a) the bearer’s right of surrender,

(b) the consequences of not exercising that right before the end of the period of 7 months beginning with the commencement date (see paragraph 3),

(c) the fact that the right will cease to be exercisable at the end of the surrender period, and

(d) the consequences of not exercising the right before the end of that period (see in particular paragraphs 5, 6 and 9 to 12).

(2) If a company fails to comply with this paragraph an offence is committed by every officer of the company who is in default.