Paragraph 62 Surrender of sharesI1

United Kingdom

(1)

A member may surrender any share—

(a)

in respect of which the directors may issue a notice of intended forfeiture;

(b)

which the directors may forfeit; or

(c)

which has been forfeited.

(2)

The directors may accept the surrender of any such share.

(3)

The effect of surrender on a share is the same as the effect of forfeiture on that share.

(4)

A share which has been surrendered may be dealt with in the same way as a share which has been forfeited.

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