Paragraph 33 Unclaimed distributionsI1

United Kingdom

(1)

All dividends or other sums which are—

(a)

payable in respect of shares, and

(b)

unclaimed after having been declared or become payable,

may be invested or otherwise made use of by the directors for the benefit of the company until claimed.

(2)

The payment of any such dividend or other sum into a separate account does not make the company a trustee in respect of it.

(3)

If—

(a)

twelve years have passed from the date on which a dividend or other sum became due for payment, and

(b)

the distribution recipient has not claimed it,

the distribution recipient is no longer entitled to that dividend or other sum and it ceases to remain owing by the company.

Annotations

C1: Sch. 1 applied (with modifications) (24.11.2025) by General Cemetery Act 2025 (c. ii), ss. 1(2), 3(3)