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Bearer Security
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Bearer security is a bond or share for which there is no proof of ownership other than the physical possession of the security.
No official record or register of ownership is kept, the owner is the "bearer" of the share or bond certificate. Such certificates are easily traded without formality.
If you own bearer securities, look after them!
No dividend is paid to such shares and no interest paid to such bonds .
Instead, the certificate will have several coupons attached. These must be physically removed from the certificate and presented to the originating company for payment of any dividend or interest to be made.
See Also: Online share dealing service Stockmarket Centre
Last Updated: May 2007 © Moneyextra.com
MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.