6.—(1) Where a person is the bearer of an outstanding bearer share immediately before the end of the surrender year, the company must—U.K.
(a)cancel the share with effect from the end of that year, and
(b)pay the value (if any) of the share into the account opened by the company in accordance with paragraph 5(3).
(2) The person is entitled to—
(a)any amounts paid into that account in respect of the share under sub-paragraph (1) or paragraph 5(1), and
(b)any interest accrued on those amounts while held in that account.
(3) If after the surrender year the company receives the documentary evidence of title mentioned in regulation 48 relating to the share, the company may conclusively treat the person sending the documentary evidence of title as being the person entitled to those amounts and that interest.
Commencement Information
I1Sch. para. 6 in force at 1.1.2021, see reg. 1(2)