:
E
16-
the order, give such directions and make such provisions as seem just for placing the company and all other persons in the same position, as nearly as may be, as if the name of the company had never been struck off.
(4) A letter or notice under this section may be addressed to the company at its registered office, or, if no office has been registered, to the care of some director or officer of the company, or, if there is no director or officer of the company whose name and address are known to the registrar of companies, may be sent to each of the persons who subscribed the memorandum, addressed to him at the address mentioned in the taemorandum,
37. If a company makes default in complying with any fenalty. of the provisions of section 35 or of any rule or regulation Od. 16 of relating thereto it shall be liable to a penalty not exceeding 1907 s. 7. fifty dollars for every day during which the default con- tinues and every director or manager of the company who knowingly or wilfully authorises or permits the default shall be liable to the liko peunity.
warrants to
38.-(1) A company limited by shares, if so authorised Issue and by its articles, way, with respect to any fully paid-up shares, effect of or to stock, issue under its common seal a warrant stating share that the bearer of the warrant is entitled to the shares or bearel. stock therein specified, and may provide, by compons or s Edw. 7 c. otherwise, for the payment of the future dividends on the 69 s. 37. shares or stock included in the warrant, in this Ordinance termed a share warrant.
(2) A share warrant shall entitle the bearer thereof to the shares or stock therein specified, and the shares or stock may be transferred by delivery of the warrant.
(3) The bearer of a share warrant shall, subject to the articles of the company, be entitled, on surrendering it for cancellation, to bave his name entered as a member in the register of members; and the company shall be responsible For any lose incurred by any person by reason of the com- pany entering in its register the name of a bearer of a share warrant in respect of the shares or stock therein specified without the warrant being surrendered and cancelled.
(4) The bearer of a share warrant may, if the articles of the company so provide, be deemed to be a member of the company within the meaning of this Ordinance, either to the full extent or for any purposes defined in the articles : except that he shall not be qualified in respect of the shares or stock specified in the warrint for being a director or manager of the company, in cases where such qualifica- tion is required by the articles.
(5) On the issue of a share warrant the company shall strike out of its register of members the name of the mein- ber then entered therein as holding the slinres or stock specified in the warrant as if he had ceased to be a member, and shall outer is the register the following particulars, namely:--
() The fact of the issue of the warrant ;
(2) A statement of the shares or stock included in the warrant, distinguishing each share by its amber; and
(4) The date of the issue of the warrant.
(6) Until the warrant is surrendered, the above parti- culars shall be deemed to be the particulars required by this Ordinance to be entered in the register of members; and, on the surrender, the date of the surrender must be entered as if it were the date at which a person sensed to be a member.
罅
39.-(1) If any person-
Forgery. (with intent to defraud, forges or alters, or personation,
offers, nuters, disposes of, or puts off, knowing
anlawfully engraving the same to be forged or altered, any share plates, & warrant or coupon, or any document purporting , s. 38. to be a share warrant or coupon, issues in por- suance of this Ordinance; or by means of any such forged or altered share warrant, coupon, or document, purporting as aforesaid, demands or endeavours to obtain or receive any share or interest in any company ander this Ordinance,
ho
objection
Power of
Arrange for differeut amounts
17
or to receive any dividend or money payable in respect thereof, knowing the warrant, coupon, or document to be forged or altered; or
(#) falsely and deceitfully personates any owner of any share or interest in any company, or of any share warrant or coupon, issued in pursuance of this Ordinance, and thereby obtains or euden- vours to obtain any such share or interest or share warrant or coupon, or receives or emfen- vours to receive any money due to any such owner, as if the offender were the trite onl inwfni owner,
be shall be guilty of felony, and being convicted thereof shall be liable, at the discretion of the court, in imprisou- ment with hard labour for life or for any term not less than three years.
(2) If any person without lawful authority or excuse, proof whereof shalt lie on him, engraves or makes on any plate, wood, stone, or other material any share warrant or coupon purporting to be a share warrant or coupon issued or made by any particular company in pursuance of this Ordinance, or to be a blank share warrant or coupon so issued or made, or to be a part of such a share warrant or compon, or uses any such plate, wood, stone, or other material for the making of printing of any such share war- rant or coupon, or of any such blank share warrant or coupon, or any part thereof respectively, or knowingly ins in his custody or possession any such plate, wood, stone, or other material, he shall be guilty of felony, and being con- viered thereof shall be liable, at the discretion of the court, to imprisonment with hard inbour for any term nor exceed- ing fourteen years and ant less than three years,
40. A company, if so unthorised by its articles, may do company to any one or more of the following things; namely, ---
(1) Make arrangements on the issue of shares for a difference between the shareholders in the amounts and times of payment of calls on their shares:
being paid on shares.
8 Edw. 7 c.
89 × 39.
Power to
(2) Accept from any member who assents thereto the whole or a part of the amount remaining unpaid on any shares held by him, although no part of that amount has been called up: (3) Pay dividend in proportion to the anonut paid up on each share where a larger amount is paid up on some shares than on others.
41.(1) When a company has accumulated a sum of return ac- undivided profits, which with the suction of the share- cumulated
holders aay be distributed among the shareholders in the profits in reduction of
form of a dividead or bonus, it may, by special resolution, paid-up return the same, or any part thereof, to the shureholders in share capital. reduction of the paid-up capital of the company, the unpaid
capital being thereby increased by a similar amount.
Zb. s. 10.
on fixed deposit in such bank
as the
directors
(2) The resolution shall not take effect mail a roemioran- duin, showing the partienfars required by this Ordinanco in the ease of a reduction of share capital, has been pro- duced to and registered by the registrar of companies, but the other provisious of this Onlinance with respect to reduction of share capital shall not apply to a reduction of paid-up share capital under this section.
(8) On & reduction of paid-up capital in pursuance of this section any shareholder, or any one or more of several joint shareholders, may within one mouth after the passing of the resolution for the reduction, require the company to retain, and the company shall retain accordingly, the whole of the money aerually paid on the shares hold by him either alone or jointly with any other person, which, in consequence of the reduction, would otherwise be returned to him or them, and thereupon those shares shall, as regards the payment of dividend, he deemed to be paid up to the same oxtent only as the shares on which payment has been accepted by the shareholders in reduction of paid-up, capital, and the company shall invest and keep invested the money so retained [in such securities authorised for in- rostmout by trustees as the company] may determine, and on the money so invested or on so much thereof as from
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