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Page 108

CHAPTER 10
SHARES

on a call from the company. A call is the result of an obligation on the part of the shareholder to pay the whole or part of the balance unpaid on the shares " as and when called on." Table A, Art, 19, makes the provisions relating to calls apply to sums payable on allotment or at a fixed date.
Calls are made in the manner laid down in the articles. Table A, Art. 15, provides:

" The directors may from time to time make calls upon the members in respect of any moneys unpaid on their shares (whether on account of the nominal amount of the shares or by way of premium) and not by the conditions of allotment thereof made payable at fixed times, provided that no call shall exceed one-fourth of the nominal amount of the share, or be payable at less than one month from the date fixed for the payment of the last preceding call; and each member shall (subject to receiving at least fourteen days' notice specifying the time or times and place of payment) pay to the company at the time or times and place so specified the amount called on his shares. A call may be revoked or postponed as the directors may determine."

A call is not properly made unless both the amount of the call and the date of payment is fixed. (39) A verbal direction to the secretary fixing the date of payment is not enough. (40)
When made, a call is a specialty debt due from the shareholder (s. 20). Table A, Art. 18, provides for payment of interest at 5 per cent. from the date of payment until actual payment.
If authorised by the articles, a company may make arrangements on the issue of shares for a difference between the shareholders in the amounts and times of payment of calls (s. 59). Table A, Art. 20, authorises such an arrangement. Such a power does not entitle directors to make calls on all the shareholders except themselves,(41) at any rate without the knowledge and sanction of the other shareholders.
Any arrangement made under s. 59 must be made at the time of the issue of shares. If no such arrangement is made, the rule is that " prinaa facie it is entirely improper for the directors to make a call on some members of a class of shareholders who stand in the same relation to the company as the other members of the class without making a similar call on all the other members of that class." (42)

Galloway v. Flalld Concerts Society, [1915] 2 Ch. 233. The company's articles provided that shareholders should pay on demand to the committee sums not exceeding in the aggregate £100. Calls duly made for £7 and £3 were paid after great delay by G.,

39 Re Cawley & Co. (1889), 42 Ch. D, 209.
40 Johnson v. Lyttle's Iron Agency (1877), 5 Ch. D. 687.
41 Alexander v. Automatic Telephone Co., [1900] 2 Ch. 56.
42 Per Sargant, J., [1915] 2 Ch. at p. 239.

travel books:
where is HTML where is HEAD where is TITLE on a call from what is company. A call is what is result of an obligation on what is part of what is shareholder to pay what is whole or part of what is balance unpaid on what is shares " as and when called on." Table A, Art, 19, makes what is provisions relating to calls apply to sums payable on allotment or at a fixed date. Calls are made in what is manner laid down in what is articles. Table A, Art. 15, provides: " what is directors may from time to time make calls upon what is members in respect of any moneys unpaid on their shares (whether on account of what is nominal amount of what is shares or by way of premium) and not by what is conditions of allotment thereof made payable at fixed times, provided that no call shall exceed one-fourth of what is nominal amount of what is share, or be payable at less than one month from what is date fixed for what is payment of what is last preceding call; and each member shall (subject to receiving at least fourteen days' notice specifying what is time or times and place of payment) pay to what is company at what is time or times and place so specified what is amount called on his shares. A call may be revoked or postponed as what is directors may determine." A call is not properly made unless both what is amount of what is call and what is date of payment is fixed. (39) A verbal direction to what is secretary fixing what is date of payment is not enough. (40) When made, a call is a specialty debt due from what is shareholder (s. 20). Table A, Art. 18, provides for payment of interest at 5 per cent. from what is date of payment until actual payment. If authorised by what is articles, a company may make arrangements on what is issue of shares for a difference between what is shareholders in what is amounts and times of payment of calls (s. 59). Table A, Art. 20, authorises such an arrangement. Such a power does not entitle directors to make calls on all what is shareholders except themselves,(41) at any rate without what is knowledge and sanction of what is other shareholders. Any arrangement made under s. 59 must be made at what is time of what is issue of shares. If no such arrangement is made, what is rule is that " prinaa facie it is entirely improper for what is directors to make a call on some members of a class of shareholders who stand in what is same relation to what is company as what is other members of what is class without making a similar call on all what is other members of that class." (42) Galloway v. Flalld Concerts Society, [1915] 2 Ch. 233. what is company's articles provided that shareholders should pay on demand to what is committee sums not exceeding in what is aggregate £100. Calls duly made for £7 and £3 were paid after great delay by G., 39 Re Cawley & Co. (1889), 42 Ch. D, 209. 40 Johnson v. Lyttle's Iron Agency (1877), 5 Ch. D. 687. 41 Alexander v. Automatic Telephone Co., [1900] 2 Ch. 56. 42 Per Sargant, J., [1915] 2 Ch. at p. 239. 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 108 where is strong CHAPTER 10 SHARES where is p align="justify" on a call from what is company. A call is what is result of an obligation on what is part of what is shareholder to pay what is whole or part of what is balance unpaid on what is shares " as and when called on." Table A, Art, 19, makes what is provisions relating to calls apply to sums payable on allotment or at a fixed date. Calls are made in what is manner laid down in what is articles. Table A, Art. 15, provides: " what is directors may from time to time make calls upon what is members in respect of any moneys unpaid on their shares (whether on account of what is nominal amount of what is shares or by way of premium) and not by what is conditions of allotment thereof made payable at fixed times, provided that no call shall exceed one-fourth of what is nominal amount of what is share, or be payable at less than one month from what is date fixed for what is payment of what is last preceding call; and each member shall (subject to receiving at least fourteen days' notice specifying what is time or times and place of payment) pay to what is company at what is time or times and place so specified what is amount called on his shares. A call may be revoked or postponed as what is directors may determine." A call is not properly made unless both what is amount of what is call and what is date of payment is fixed. (39) A verbal direction to what is secretary fixing what is date of payment is not enough. (40) When made, a call is a specialty debt due from what is shareholder (s. 20). Table A, Art. 18, provides for payment of interest at 5 per cent. from what is date of payment until actual payment. If authorised by what is articles, a company may make arrangements on what is issue of shares for a difference between what is shareholders in what is amounts and times of payment of calls (s. 59). Table A, Art. 20, authorises such an arrangement. Such a power does not entitle directors to make calls on all what is shareholders except themselves,(41) at any rate without what is knowledge and sanction of what is other shareholders. Any arrangement made under s. 59 must be made at what is time of what is issue of shares. If no such arrangement is made, what is rule is that " prinaa facie it is entirely improper for what is directors to make a call on some members of a class of shareholders who stand in what is same relation to what is company as what is other members of what is class without making a similar call on all what is other members of that class." (42) Galloway v. Flalld Concerts Society, [1915] 2 Ch. 233. what is company's articles provided that shareholders should pay on demand to what is committee sums not exceeding in what is aggregate £100. Calls duly made for £7 and £3 were paid after great delay by G., 39 Re Cawley & Co. (1889), 42 Ch. D, 209. 40 Johnson v. Lyttle's Iron Agency (1877), 5 Ch. D. 687. 41 Alexander v. Automatic Telephone Co., [1900] 2 Ch. 56. 42 Per Sargant, J., [1915] 2 Ch. at p. 239. where is Server.Execute("_SiteMap.asp") %

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