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Page 32

CHAPTER 4
REGISTRATION OF A COMPANY

(c) no money is or may become liable to be repaid to applicants for shares or debentures which have been offered for public subscription through failure to apply for or obtain permission for the shares or debentures to be'dealt in on any stock exchange (see Chap. 8);
(d) a statutory declaration by the secretary or one of the directors that these conditions have been complied with, has been delivered to the Registrar.
2. Where no prospectus has been issued
(a) a statement in lieu of prospectus has been registered;
(b) every director has paid on his shares a proportion equal
to the proportion payable on application and allotment
on the shares payable in cash;
(c) a statutory declaration by the secretary or one of the
directors that (b) above has been complied with, has
been delivered to the Registrar.
On delivery of these documents to the Registrar, a certificate that the company is entitled to commence business (called a trading certificate) is issued. No business of any kind can be carried on before this certificate is issued, under penalty of a fine of £50 a day on every person responsible for the contravention of the Act.
A simultaneous offer of shares and debentures is not forbidden.
Any contract made by a company before it is entitled to commence business is provisional only, and is not binding on the company unless and until it is entitled to commence business. If, therefore, goods are supplied to a company which never becomes entitled to commence business, the company is not liable to pay for them. 7 The company also will not be entitled to enforce such contracts until the certificate is obtained.

CONTRACTS
Contracts on behalf of a company are made by persons acting under the company's authority either in writing or by parol according as they would be entered into by private persons. If the contract is required by law to be under seal, it is made under the company's common seal (s. 32).

7 Otto Electrical Manufacturing Co.. [1906] 2 Ch. 390.

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where is HTML where is HEAD where is TITLE (c) no money is or may become liable to be repaid to applicants for shares or debentures which have been offered for public subscription through failure to apply for or obtain permission for what is shares or debentures to be'dealt in on any stock exchange (see Chap. 8); (d) a statutory declaration by what is secretary or one of what is directors that these conditions have been complied with, has been delivered to what is Registrar. 2. Where no prospectus has been issued (a) a statement in lieu of prospectus has been registered; (b) every director has paid on his shares a proportion equal to what is proportion payable on application and allotment on what is shares payable in cash; (c) a statutory declaration by what is secretary or one of what is directors that (b) above has been complied with, has been delivered to what is Registrar. On delivery of these documents to what is Registrar, a certificate that what is company is entitled to commence business (called a trading certificate) is issued. No business of any kind can be carried on before this certificate is issued, under penalty of a fine of £50 a day on every person responsible for what is contravention of what is Act. A simultaneous offer of shares and debentures is not forbidden. Any contract made by a company before it is entitled to commence business is provisional only, and is not binding on what is company unless and until it is entitled to commence business. If, therefore, goods are supplied to a company which never becomes entitled to commence business, what is company is not liable to pay for them. 7 what is company also will not be entitled to enforce such contracts until what is certificate is obtained. CONTRACTS Contracts on behalf of a company are made by persons acting under what is company's authority either in writing or by parol according as they would be entered into by private persons. If what is contract is required by law to be under seal, it is made under what is company's common seal (s. 32). 7 Otto Electrical Manufacturing Co.. [1906] 2 Ch. 390. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 32 where is strong CHAPTER 4 REGISTRATION OF A COMPANY where is p align="justify" (c) no money is or may become liable to be repaid to applicants for shares or debentures which have been offered for public subscription through failure to apply for or obtain permission for what is shares or debentures to be'dealt in on any stock exchange (see Chap. 8); (d) a statutory declaration by what is secretary or one of what is directors that these conditions have been complied with, has been delivered to what is Registrar. 2. Where no prospectus has been issued (a) a statement in lieu of prospectus has been registered; (b) every director has paid on his shares a proportion equal to what is proportion payable on application and allotment on what is shares payable in cash; (c) a statutory declaration by what is secretary or one of what is directors that (b) above has been complied with, has been delivered to what is Registrar. On delivery of these documents to what is Registrar, a certificate that what is company is entitled to commence business (called a trading certificate) is issued. No business of any kind can be carried on before this certificate is issued, under penalty of a fine of £50 a day on every person responsible for what is contravention of what is Act. A simultaneous offer of shares and debentures is not forbidden. Any contract made by a company before it is entitled to commence business is provisional only, and is not binding on what is company unless and until it is entitled to commence business. If, therefore, goods are supplied to a company which never becomes entitled to commence business, what is company is not liable to pay for them. 7 what is company also will not be entitled to enforce such contracts until what is certificate is obtained. where is p align="justify" CONTRACTS Contracts on behalf of a company are made by persons acting under what is company's authority either in writing or by parol according as they would be entered into by private persons. If what is contract is required by law to be under seal, it is made under what is company's common seal (s. 32). 7 Otto Electrical Manufacturing Co.. [1906] 2 Ch. 390. where is Server.Execute("_SiteMap.asp") %

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