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25.—(1) If a certificate issued in respect of a shareholder’s shares is—
(a)damaged or defaced, or
(b)said to be lost, stolen or destroyed,
that shareholder is entitled to be issued with a replacement certificate in respect of the same shares.
(2) A shareholder exercising the right to be issued with such a replacement certificate—
(a)may at the same time exercise the right to be issued with a single certificate or separate certificates;
(b)must return the certificate which is to be replaced to the company if it is damaged or defaced; and
(c)must comply with such conditions as to evidence, indemnity and the payment of a reasonable fee as the directors decide.
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