137 Share capital of unlimited company on re-registration

Share capital of unlimited company on re-registration

Section 62(3) provides that unlimited company having a share capital may by any resolution passed for the purposes of Section 25(1) –

(a) increase the nominal amount of its share capital by increasing the nominal amount of each of its shares, but subject to the condition that no part of the increased capital shall be capable of being called up except in the event and for the purposes of the company being wound up; and

(b) in addition or alternatively, provide that a specified portion of its uncalled share capital shall not be capable of being called up except in the event and for the purposes of the company being wound up.

 

Activity 3.4
Question to activity 3.4 Suggested answers to activity 3.4

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