INTM333180 - Double Taxation applications and claims: Vouchers: What a block voucher is

When there is a dividend or interest payment in respect of a security in a block holding, the payer will issue a single voucher to the bank or finance house holding the block, which is usually in the name of its subsidiary nominee company. The bank or finance house then usually issues a subsidiary voucher, either in the R189 series or of its own approved design, for each individual customer’s share of dividends or interest it has received in respect of the block holding. Each subsidiary certificate carries a statement that the customer’s holding of X shares is part of a block holding of Y shares.