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58(1)Any amount that is not reinvested—
(a)because the amount of the cash dividend to which the participant is entitled is not sufficient to acquire a share, or
(b)because there is an amount remaining after acquiring one or more dividend shares on the participant’s behalf,
may be retained by the trustees and carried forward to be added to the amount of the next cash dividend to be reinvested, but shall be held by them so as to be separately identifiable for the purposes of sub-paragraphs (2) and (3).
(2)An amount retained under this paragraph shall be paid over to the participant—
(a)if or to the extent that it is not reinvested within the period of three years beginning with the date on which the dividend was paid, or
(b)if during that period the participant ceases to be in relevant employment, or
(c)if during that period a plan termination notice is issued in respect of the plan.
(3)An amount required to be paid over to the participant under sub-paragraph (2) shall be paid over as soon as practicable.
(4)For the purposes of this paragraph an amount carried forward under this paragraph derived from an earlier cash dividend is treated as reinvested before an amount derived from a later cash dividend.
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