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Redemption of trading stamps for cash.
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5.—(1) If the holder of any number of trading stamps which have an aggregate cash value of not less than £1 so requests, the promoter of the trading stamp scheme shall redeem them by paying over not less than their aggregate cash value.
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(2) The holder of the trading stamps may exercise his right under subsection (1) of this section—
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(a) by presenting the stamps at any reasonable time at the registered office or any place of business of the company which is the promoter of the scheme, or
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(b) by sending the stamps by post to that office or place of business with sufficient instructions as to the manner in which the cash value is to be paid over, or
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(c) in any other manner afforded by the promoter of the scheme.
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(3) If a company which is the promoter of a trading stamp scheme fails, neglects or refuses to redeem any trading stamps which have been presented to it pursuant to subsection (1) of this section, the holder of those stamps may recover the value of the stamps as a simple contract debt in any court of competent jurisdiction.
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