193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 141

1667

Calls on Shares.

11. The directors may from time to time make calls 1st Schedule. upon the members in respect of any moneys unpaid Table A. on their shares provided that no call shall exceed -contd. one-fourth of the nominal amount of the share, or be payable at less than one month from the last call: and cach member shail (subject to receiving at least fourteen days' notice specifying the time or times of payment) pay to the company at the time or times so specified the amount called on his shures.

12. The joint holders of a share shall be jointly and severally liable to pay all calls in respect thereof.

18. If a sum called in respect of a share is not paid before or on the day appointed for payinent thereof, the person from whom the sum is due shall pay interest upon the sum at the rate of five dollars per centum per annum from the day appointed for the payment thereof to the time of the actual pay- ment, but the directors shall be at liberty to waive payment of that interest wholly or in part.

14. The provisions of these regulations as to the liability of joint holders and as to payment of interest shall apply in the case of non-payment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether on account of the amount of the share, or by way of premium, as if the same had become payable by virtue of a call duly made and notified.

15. The directors may make arrangements on the issue of shares for a difference between the holders in the amount of calls to be paid and in the times of payment.

16, The directors may, if they think fit, receive from any member willing to advance the same all or any part of the moneys uncalled and unpaid upon any shares held by him; and upon all or any of the moneys so advanced may (until the same would, but for such advance, become presently payable) pay interest at such rate (not exceeding, without the sanction of the company in general meeting, six per cent.) as may be agreed upon between the member paying the sum in advance and the directors.

Transfer and Transmission of Shares.

17. The instrument of transfer of any share shall be executed by or on behalf of the transferor and transferee, and the transferor shall be deemed to remain a holder of the share until the name of the transferee is entered in the register of members in respect thereof.

18. Shares shall be transferred in the following form, or in any usual or common form which the directors shall approve:

I, A.B., of

sum of $

1

in consideration of the

paid to me by C.D. of

(herein-after called "the said transferee')

do hereby transfer to the said transferee the share [or shares] numbered called the

in the undertaking Company, Limited,

to hold unto the said transferee, subject to the several conditions on which I hold the same: and I, the said transferee, do hereby agree to take the said share [or shares] subject to the conditions aforesaid. As witness our hands the

day of

Witness to the signatures of, &c.

A