Paragraph 13

(1)

Where a person is the bearer of an outstanding bearer unit immediately before the end of the surrender year, the operator of the scheme must—

(a)

cancel the unit with effect from the end of that year, and

(b)

pay the value (if any) of the unit into the account opened by the scheme in accordance with paragraph 12(3).

(2)

The person is entitled to—

(a)

any amounts paid into that account in respect of the unit under subparagraph (1) or paragraph 12(1), and

(b)

any interest accrued on those amounts while held in that account.

(3)

If after the surrender year the scheme receives the documentary evidence of title mentioned in section 241A(3) relating to the unit, the operator of the scheme may conclusively treat the person sending the documentary evidence of title as being the person entitled to those amounts and interest.