How far new
with shares
in original capital.
82
new shares, any difficulty shall arise in the apportion ment of such new shares, or any of them, amongst th members, such difficulty shall, in the absence c direction by the Company in general meeting, b settled by the board.
33
86. The Company may make agreements on the Shares may issue of shares for a difference between the holders of be issued
subject to such shares in the amount of calls to be paid and the different time of payment of such calls.
conditions as to calls, etc.
instalments.
81. Except so far as otherwise provided by th 87. If by the conditions of allotment of any shares Allotment of shares to rank conditions of issue or by these Articles any capita the whole or part of the amount or issue price thereof new shares raised by the creation of new shares shall form par shall be payable by instalments, every such instal talente of the original ordinary capital of the Company and ments shall, when due be paid to the Company by such shares shall be subject to the provisions con the person who for the time being shall be the tained in these Articles with reference to the paymeni registered holder of the shares. of calls and instalments, transfer and transmission
88. Save as aforesaid, the directors shall not apply forfeiture, lien, cancellation, surrender, voting an otherwise as if it had formed part of the origina any of the shares or capital money of the Company, either directly or indirectly, in the payment of any capital.
commission, discount or allowance to any person in 82. The directors shall observe the restrictions a consideration of his subscribing or agreeing to sub- to allotment contained in section 87 of the Ordinances scribe, whether absolutely conditionally, for any shares of the Company, or procuring or agreeing to
Restrictions as to allotment.
Return as to allotments.
How divi-
Prohibition.
83. As regards all allotments from time to tim procure subscriptions, whether absolute or conditional, made the directors shall duly comply with section ∞ for any shares in the Company whether the shares or of the Companies Ordinance, 1911, as amended by money be so applied by being added to the purchase section 13 of the Companies Amendment Ordinance money of any property acquired by the Company or to 1913, and shall cause to be made the returns as to the contract price of any work to be executed for the allotment required by those sections.
Company, or the money be paid out of the nominal Brokerage. purchase money or contract price, or otherwise; provided however that the foregoing prohibition shall not affect the power of the Company to pay lawful brokerage.
84. The Company shall pay dividend or bonus dends on new respect of any existing or new shares of the Company shares to be proportion to the amount paid upon each share wher a larger amount is paid up on some shares than o others.
paid.
Company may pay commission.
85 The Company may at any time pay a con mission to any person for subscribing or agreeing subscribe (whether absolutely or conditionally) f any shares in the Company, or procuring or agreein to procure subscriptions (whether absolutely or cond tional) for any shares in the Company, but so that the commission shall be paid or payable out of capita the conditions and requirements of the Ordinance shall be observed and complied with, and the com mission shall not exceed ten per cent. in each case c the shares subscribed or to be subscribed.
to be in-
89. Where the Company has paid any sums by way Commission of commission in respect of any shares or debentures, cluded in or allowed any sums by way of discount in respect of balance any debentures, such statement thereof shall be made sheet. in the balance sheet as is required by section 92 of the Ordinances.
90. The Company may, from time to time, by Reduction of Special Resolution reduce its capital by paying off capital, etc. capital or cancelling capital which has been lost or is unrepresented by available assets, or reducing the liability on the shares, or otherwise, as may seem expedient, and capital may be paid off upon the footing that it may be called up again or otherwise
243