Turf Development Act, 1946

Payments to holders of shares of the dissolved company.

61.—On or as soon as may be after the establishment date, the Board shall pay to each person who was, on the day immediately preceding the establishment day, the registered holder of any share or shares of the dissolved company, the sum of one pound for each share of the dissolved company held by him, and such payment shall be accepted by him in lieu of and in satisfaction of all rights and claims in respect of each such share in respect of which such payment is made.