97. Provisions as to entries in register in relation to share warrants

On the issue of a share warrant, the company shall strike out of its register of members the name of the member then entered therein as holding the shares specified in the warrant as if he had ceased to be a member and shall enter in the register the following particulars -

The holder of a share warrant is required to surrender the warrants for cancellation by 3 1 st December 201 5 and have his name entered as a member in the register of members.

The company shall be responsible for any loss incurred by any person by reason of the company entering in the register the name of a holder of a share warrant in respect of the shares therein specified without the warrant being surrendered and cancelled.

Until the warrant is surrendered, the particulars specified in subsection (1) are deemed to be the particulars required by this Act to be entered in the register of members, and on the surrender, the date of the surrender must be entered.

Subject to the provisions of this Act, the holder of a share warrant may, if the articles of the company so provide, be deemed to be a member of the company, either to the full extent or for any purposes defined a in the articles.