Unpaid dividend transfer procedures: companies must follow rules, assist claimants and update processes to facilitate recovery. Amounts unclaimed for three years must be transferred to the General Revenue Account and claims processed under the Companies Unpaid Dividend Rules. Companies should enable survivorship transmission by article amendment, publicise dividend payment authorisation to nominees or bankers, promptly update shareholder addresses, assist claimants, display the prescribed rules and claim formats at the registered office, discontinue redundant endorsements on account payee warrants, consider extending warrant validity, notify particulars of transferred dividends in AGM notices, and apply the revised indemnity bond threshold for larger claims.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unpaid dividend transfer procedures: companies must follow rules, assist claimants and update processes to facilitate recovery.
Amounts unclaimed for three years must be transferred to the General Revenue Account and claims processed under the Companies Unpaid Dividend Rules. Companies should enable survivorship transmission by article amendment, publicise dividend payment authorisation to nominees or bankers, promptly update shareholder addresses, assist claimants, display the prescribed rules and claim formats at the registered office, discontinue redundant endorsements on account payee warrants, consider extending warrant validity, notify particulars of transferred dividends in AGM notices, and apply the revised indemnity bond threshold for larger claims.
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