COMPANIES. [ 14 or 1881. ] 617
No. 14 OF 1881 .
An Ordinance entitled the “ Companies Ordinance, ( See No.1of
1881." 1865 , Nos, 2
f: 3 of 1866,
NO. 1 of 1877,
[ 29th August, 1881. ] No. 3 of 1883,
* * *
No. 30 of 1886
**
& No. 25 of
1890.)
1. This ordinance shall not apply to banking companies. Ordinance
not to apply
to banks.
2. This ordinance shall so far as is consistent with the tenor Ordinance to
be construed
thereof be construed as one with the Companies Ordinance, 1865 ,
the Companies Ordinance, 1866 , and the Companies Ordinance, Companies
Ordinances
1877, and those ordinances together with this ordinance may 1865,1866and
1867 .
be referred to as the Companies Ordinances 1805 to 1881 .
3. Subject as in this orilinance mentioned any company Registration .
registered before or after the passing of this ordinance as an pany
anew of com
unlimited company may register under the Companies Ordi- lity:
limited liabi
nances 1865 to 1881 as a limited company , or any company
already registered as a limited company may re-register under
the provisions of this ordinance,
The registration of an unlimited company as a limited coin
pany in pursuance of this ordinance shall not affect or prejudice
any debts, liabilities, obligations or contracts incurred or entered
into by, to, with , or on behalf of such company, prior to such
registration as aforesaid, and such debts , liabilities, contracts
and obligations may be enforced in manner provided by the
Companies Ordinance, 1866, in the case of aa company register
ing in pursuance of that ordinance or otherwise .
4. An unlimited company may by the resolution passed by Reserve
the members when ussenting toregistration as a limited com- comp
capitalanyofhow
pany under the Companies Ordinances 1865 to 1880, and for provided .
the purpose of such registration or otherwise increase the nominal
amount of its capital by increasing the nominal amount of each
of its shares.
Provided that no part ofsuch increased capital shall be capable
of being called up, except in the event of and for the purposes
of the company being wound up.
And , in cases where no such increase of nominal capital may
be resolved upon, an unlimited company may, by such resolution
as aforesaid, provide that a portion of its uncalled capital shall
not be capable of being called up except in the event of and for
the purposes of the company being wound up..
A limited company may by a special resolution declare that
any portion of its capital which has not been already called up
shall not be capable of being called up except in the event of