0 something that is not currency but that can be used in the same way as money, for example, points you collect when you shop at a particular store and gift certificates: --
1 extra shares that are given to shareholders in a company instead of a cash dividend: --
2 a document that shows that you own shares or bonds: --
There should be no difficulty in turning the scrip into cash.
Alternatively, that money is converted into capital gains or the companies use free scrip issues and so on.
Have any other enterprises been enabled to pay their debt by the issue of scrip?
Is it to be in the form of scrip, or of deeds?
Companies have been asked under the voluntary dividend restraint policy to defer making scrip issues for the time being.
I am not clear whether this restricts holders of scrip who are still holders on the date of their death.
I myself feel that its fear is misplaced and that a scrip issue would be liable to the tax only when it was disposed of.
Suppose that company were to declare a one for one scrip issue.
There is the point that cash payment should be made and not payment in scrip.
