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Page 90

CHAPTER 9
CAPITAL

When shares have been converted into stock the annual return must show the amount of stock held by each member (s. 124).
The advantage of converting shares into stock is that the work caused by the fact that each share has a separate number is obviated. (24)

Sub-Division of Shares.-This is effected by dividing one share into a number of smaller shares, e.g., by dividing one £1 share into twenty 1 s. shares. The nature of the resolution required is specified in the articles. Table A, Art. 45, requires an ordinary resolution. If the shares are not fully paid up, the proportion between the amount paid and the amount unpaid on each reduced share must be the same as it was in the case of the share from which the reduced share is derived. The sub-division of the shares must be registered with the Registrar within a month.

Cancellation of Shares.-A company can cancel shares which have not been taken or agreed to be taken by any person, and diminish the amount of its share capital by the amount of the shares so cancelled. This does not amount to a reduction of capital. Cancellation may be effected either by an ordinary or a special resolution. Table A, Art. 45, requires an ordinary resolution. Notice of the cancellation must be registered with the Registrar within a month.

REDUCTION OF SHARE CAPITAL
The capital of the company, must, as is pointed out in an earlier part of this chapter, be subscribed for in cash, or for money's worth. This capital may be lost or diminished according to the fluctuations of the business, but it cannot be reduced in any other way without the sanction of the Court. The object of requiring this sanction is twofold: (i) to protect persons dealing with the company, so that the fund available for satisfying their claims shall not be diminished except by ordinary business risks, and (ii) to ensure that the reduction is equitable as between the shareholders of the company.
Subject to coniirmation by the Court, a company may, if authorised by its articles, by special resolution, reduce its share capital in any -way, and in particular may
1. extinguish or reduce the liability on any of its shares in respect of share capital not paid up; or

24 This advantage is to some extent off-set by the provisions of s. 74 (post, p. 95).

travel books:
where is HTML where is HEAD where is TITLE When shares have been converted into stock what is annual return must show what is amount of stock held by each member (s. 124). what is advantage of converting shares into stock is that what is work caused by what is fact that each share has a separate number is obviated. (24) Sub-Division of Shares.-This is effected by dividing one share into a number of smaller shares, e.g., by dividing one £1 share into twenty 1 s. shares. what is nature of what is resolution required is specified in what is articles. Table A, Art. 45, requires an ordinary resolution. If what is shares are not fully paid up, what is proportion between what is amount paid and what is amount unpaid on each reduced share must be what is same as it was in what is case of what is share from which what is reduced share is derived. what is sub-division of what is shares must be registered with what is Registrar within a month. Cancellation of Shares.-A company can cancel shares which have not been taken or agreed to be taken by any person, and diminish what is amount of its share capital by what is amount of what is shares so cancelled. This does not amount to a reduction of capital. Cancellation may be effected either by an ordinary or a special resolution. Table A, Art. 45, requires an ordinary resolution. Notice of what is cancellation must be registered with what is Registrar within a month. REDUCTION OF SHARE CAPITAL what is capital of what is company, must, as is pointed out in an earlier part of this chapter, be subscribed for in cash, or for money's worth. This capital may be lost or diminished according to what is fluctuations of what is business, but it cannot be reduced in any other way without what is sanction of what is Court. what is object of requiring this sanction is twofold: (i) to protect persons dealing with what is company, so that what is fund available for satisfying their claims shall not be diminished except by ordinary business risks, and (ii) to ensure that what is reduction is equitable as between what is shareholders of what is company. Subject to coniirmation by what is Court, a company may, if authorised by its articles, by special resolution, reduce its share capital in any -way, and in particular may 1. extinguish or reduce what is liability on any of its shares in respect of share capital not paid up; or 24 This advantage is to some extent off-set by what is provisions of s. 74 (post, p. 95). 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 90 where is strong CHAPTER 9 CAPITAL where is p align="justify" When shares have been converted into stock what is annual return must show what is amount of stock held by each member (s. 124). what is advantage of converting shares into stock is that what is work caused by what is fact that each share has a separate number is obviated. (24) Sub-Division of Shares.-This is effected by dividing one share into a number of smaller shares, e.g., by dividing one £1 share into twenty 1 s. shares. what is nature of what is resolution required is specified in what is articles. Table A, Art. 45, requires an ordinary resolution. If what is shares are not fully paid up, what is proportion between what is amount paid and what is amount unpaid on each reduced share must be what is same as it was in what is case of what is share from which what is reduced share is derived. what is sub-division of what is shares must be registered with what is Registrar within a month. Cancellation of Shares.-A company can cancel shares which have not been taken or agreed to be taken by any person, and diminish what is amount of its share capital by what is amount of what is shares so cancelled. This does not amount to a reduction of capital. Cancellation may be effected either by an ordinary or a special resolution. Table A, Art. 45, requires an ordinary resolution. Notice of what is cancellation must be registered with what is Registrar within a month. REDUCTION OF SHARE CAPITAL what is capital of what is company, must, as is pointed out in an earlier part of this chapter, be subscribed for in cash, or for money's worth. This capital may be lost or diminished according to what is fluctuations of what is business, but it cannot be reduced in any other way without what is sanction of what is Court. what is object of requiring this sanction is twofold: (i) to protect persons dealing with what is company, so that what is fund available for satisfying their claims shall not be diminished except by ordinary business risks, and (ii) to ensure that what is reduction is equitable as between what is shareholders of what is company. Subject to coniirmation by what is Court, a company may, if authorised by its articles, by special resolution, reduce its share capital in any -way, and in particular may 1. extinguish or reduce what is liability on any of its shares in respect of share capital not paid up; or 24 This advantage is to some extent off-set by what is provisions of s. 74 (post, p. 95). where is Server.Execute("_SiteMap.asp") %

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