# The Companies (Model Articles) Regulations 2008, Paragraph 59: Directors’ power to forfeit shares

Extent: E+W+S+N.I.

If a notice of intended forfeiture is not complied with before the date by which payment of the call is required in the notice of intended forfeiture, the directors may decide that any share in respect of which it was given is forfeited, and the forfeiture is to include all dividends or other moneys payable in respect of the forfeited shares and not paid before the forfeiture.

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Source: https://www.legislation.gov.uk/uksi/2008/3229/schedule/3/paragraph/59 (the official version)
Page: https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-3/paragraph-59
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.