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CHAPTER 9
CAPITAL

THE word " capital " used in connection with a company has several different meanings; it may mean the nominal, issued, paid up or reserve capital of the company.
The nominal capital is the total amount of capital which the company is authorised to issue. This amount is set out in the memorandum of association, but it may be increased in the manner explained below. The amount of the company's nominal capital depends on its business requirements.
The issued capital is that part of the company's nominal capital which has been issued to the shareholders. The company is not bound to issue all its capital at once, and frequently when the nominal capital is increased the extent of the increase is not limited to the company's present requirements, but covers its probable requirements in the future. In such a case, further issues of capital are made as they are needed.
The paid up capital is that part of the issued capital which has been paid up by the shareholders. The company may, for example, have a nominal capital of £500,000, of which f=400,000 is issued, and only £100,000 is paid up. The remainder of the issued capital can be called up at any time by the company from the shareholders in accordance with the provisions of the articles.
The reserve capital is that part of the uncalled capital which the company has by special resolution determined shall not be called up except in the event of the company being wound up (s. 60). This capital is not under the control of the directors and cannot be charged by the company, e.g., as security for debentures. IL It is available only by the creditors on the winding up of the company. It must be carefully distinguished from "reserve" or "reserve fund," which are expressions applied to undistributed profits which the company keeps in band to provide for emergencies. Such reserves can be spent,

1 In re Mayfair Property Co., [1898] 2 Ch. 28.

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where is HTML where is HEAD where is TITLE THE word " capital " used in connection with a company has several different meanings; it may mean what is nominal, issued, paid up or reserve capital of what is company. what is nominal capital is what is total amount of capital which what is company is authorised to issue. This amount is set out in what is memorandum of association, but it may be increased in what is manner explained below. what is amount of what is company's nominal capital depends on its business requirements. what is issued capital is that part of what is company's nominal capital which has been issued to what is shareholders. what is company is not bound to issue all its capital at once, and frequently when what is nominal capital is increased what is extent of what is increase is not limited to what is company's present requirements, but covers its probable requirements in what is future. In such a case, further issues of capital are made as they are needed. what is paid up capital is that part of what is issued capital which has been paid up by what is shareholders. what is company may, for example, have a nominal capital of £500,000, of which f=400,000 is issued, and only £100,000 is paid up. what is remainder of what is issued capital can be called up at any time by what is company from what is shareholders in accordance with what is provisions of what is articles. what is reserve capital is that part of what is uncalled capital which what is company has by special resolution determined shall not be called up except in what is event of what is company being wound up (s. 60). This capital is not under what is control of what is directors and cannot be charged by what is company, e.g., as security for debentures. IL It is available only by what is creditors on what is winding up of what is company. It must be carefully distinguished from "reserve" or "reserve fund," which are expressions applied to undistributed profits which what is company keeps in band to provide for emergencies. Such reserves can be spent, 1 In re Mayfair Property Co., [1898] 2 Ch. 28. 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 81 where is strong CHAPTER 9 CAPITAL where is p align="justify" THE word " capital " used in connection with a company has several different meanings; it may mean what is nominal, issued, paid up or reserve capital of what is company. what is nominal capital is what is total amount of capital which what is company is authorised to issue. This amount is set out in what is memorandum of association, but it may be increased in what is manner explained below. what is amount of what is company's nominal capital depends on its business requirements. what is issued capital is that part of what is company's nominal capital which has been issued to what is shareholders. what is company is not bound to issue all its capital at once, and frequently when what is nominal capital is increased what is extent of what is increase is not limited to what is company's present requirements, but covers its probable requirements in what is future. In such a case, further issues of capital are made as they are needed. what is paid up capital is that part of what is issued capital which has been paid up by what is shareholders. what is company may, for example, have a nominal capital of £500,000, of which f=400,000 is issued, and only £100,000 is paid up. what is remainder of what is issued capital can be called up at any time by what is company from what is shareholders in accordance with what is provisions of what is articles. what is reserve capital is that part of what is uncalled capital which what is company has by special resolution determined shall not be called up except in what is event of what is company being wound up (s. 60). This capital is not under what is control of what is directors and cannot be charged by what is company, e.g., as security for debentures. IL It is available only by what is creditors on what is winding up of what is company. It must be carefully distinguished from "reserve" or "reserve fund," which are expressions applied to undistributed profits which what is company keeps in band to provide for emergencies. Such reserves can be spent, 1 In re Mayfair Property Co., [1898] 2 Ch. 28. where is Server.Execute("_SiteMap.asp") %

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