Banking Instruction for Payment of Interest or Dividends

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What is it?

A Banking Instruction for Payment of Interest or Dividends is a form used by a shareholder to inform the company of his or her bank account details for receiving interest or dividends.

Why do you need it?

This document is vital as it enables shareholders to receive the interest or dividends that are due.

Key clauses to watch for:

When drafting a Banking Instruction for Payment of Interest or Dividends, it is important to focus on a number of key clauses, in particular:

  • Details of the company in which shares or depositary interest is held;
  • Details of the shares or depositary interest held; and
  • Details of the bank account for receiving payment.

Banking Instruction for Payment of Interest or Dividends Document