# The Bearer Certificates (Collective Investment Schemes) Regulations 2020, Paragraph 2


In this Part—
“outstanding bearer share” means a bearer share which has been issued by an open-ended investment company before the surrender year and has not been cancelled;
“the surrender year” means the year beginning with the end of 1 January 2021.

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Source: https://www.legislation.gov.uk/ukdsi/2020/9780348212471/schedule/paragraph/2 (the official version)
Page: https://openlegislation.uk/draft-bearer-certificates-collective-investment-schemes-regulations-2020/schedule/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.