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1 A demand for a payment due on nil or partly paid stocks; this procedure has been common with the privatization programme of the UK government since 1979. It consists of a demand to pay a specified amount of money by a specified day; if payment is not made by the due date the shares can be forfeit.

2 A notification that redeemable shares or bonds should be presented for repayment.

3 A demand made on a client by a securities house, stockbroker, etc., for a partial payment of the client's debt because the value of the collateral so far provided has fallen.

Subjects: Financial Institutions and Services.

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