NAC01 Form UK: Cancel Share Warrants Guide

What this document is

Form NAC01 is a Companies House notice used to tell the registrar that an application has been made to court for the cancellation of a share warrant. A share warrant, sometimes called a bearer share, was a document issued by a company stating that the holder of the warrant was entitled to the shares specified in it.

Ownership was tied to physical possession of the warrant rather than to an entry in the register of members. The Small Business, Enterprise and Employment Act 2015 ended the ability of UK companies to issue new share warrants and set out a transitional regime for surrendering and cancelling existing ones.

Where warrants were not surrendered during that window, companies were required to apply to court for cancellation. Form NAC01 is the formal way a company notifies the registrar that such a court application has been made, so the public record reflects the status of the warrants in question.

How to use this document

1. Confirm that a share warrant actually exists. Before touching Form NAC01, check your statutory registers and historic share issue records to confirm that your company genuinely issued one or more share warrants and that they have not already been surrendered, cancelled, or converted into registered shares. Many modern UK companies have never issued bearer instruments, so this form will not apply to them at all.
2. Take legal input on the court application. The cancellation route under Schedule 4 of the Small Business, Enterprise and Employment Act 2015 involves an application to court, not just a filing at Companies House. You will usually need input from a solicitor on the application itself, the evidence required, and who must be given notice. Form NAC01 is a downstream filing, it does not replace the underlying court process.
3. Prepare the information needed for the form. You will need the company name and number, details of the share warrant or warrants concerned, the number and class of shares they represent, and information about the court application that has been made. Make sure the details on the form match your register of members, share issue records, and the court paperwork, as mismatches can cause the filing to be queried.
4. File Form NAC01 with Companies House. Submit the completed NAC01 to Companies House in line with their current filing guidance. Check gov.uk for the current filing method, any fee, and whether paper or electronic filing is accepted for this particular form. Keep a copy of the signed form and proof of submission on the company's records together with the court papers.
5. Update the company's internal records once cancellation is ordered. If the court orders cancellation of the share warrants, update the register of members, the PSC register where relevant, and any related minute books and share records. Consider whether any follow-up filings at Companies House are needed, such as updates to statements of capital, so that the public record and internal records line up.

Common questions