Companies.
(d) subdivided its shares or any of them; or (e) redeemed any redeemable preference shares; or (f) cancelled any shares, otherwise than in connexion with a reduction of share capital under section 58, it shall within one month after so doing give notice thereof to the Registrar of Companies specifying, as the case may be, the shares consolidated, divided, converted, subdivided, redeemed or cancelled, or the stock re-converted.
(2) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.
[53
[CAP. 32
share capital.
increase of
e. 23, s. 52.
19 & 20 Geo. 5, c. 55. (1) Where a company having a share capital, Notice of whether its shares have or have not been converted into stock, has increased its share capital beyond the registered capital, it shall within fifteen days after the passing of the resolution authorizing the increase, give to the Registrar notice of the increase, and the Registrar shall record the increase.
(2) The notice to be given as aforesaid shall include such particulars as may be prescribed with respect to the classes of shares affected and the conditions subject to which the new shares have been or are to be issued, and there shall be forwarded to the Registrar together with the notice a printed copy of the resolution authorizing the increase.
(3) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.
[54
56. An unlimited company having a share capital may, by its resolution for registration as a limited company in pursuance of this Ordinance, do either or both of the following things, namely-
Power of unlimited company to provide for reserve share capital on re-registration.
c. 23, s. 53.
(a) increase the nominal amount of its share capital by 19 & 20 Geo. 5, 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;
(b) 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.
[55
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Page 35:
!
Companies.
(d) subdivided its shares or any of them; or (e) redeemed any redeemable preference shares; or ( cancelled any shares, otherwise than in connexion
with a reduction of share capital under section 58, it shall within one month after so doing give notice thereof to the Registrar of Companies specifying, as the case may be, the shares consolidated, divided, converted, subdivided, redeemed or cancelled, or the stock re-converted.
(2) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.
[53
[CAP. 32
share capital.
increase of
e. 23, s. 52.
19 & 20 Geo. 5, c.
55. (1) Where a company having a share capital, Notice of whether its shares have or have not been converted into stock, has increased its share capital beyond the registered capital, it shall within fifteen days after the passing of the resolution authorizing the increase, give to the Registrar notice of the increase, and the Registrar shall record the increase.
(2) The notice to be given as aforesaid shall include such particulars as may be prescribed with respect to the classes of shares affected and the conditions subject to which the new shares have been or are to be issued, and there shall be forwarded to the Registrar together with the notice a printed copy of the resolution authorizing the increase.
(3) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.
[54
56. An unlimited company having a share capital may, by its resolution.for registration as a limited company in pursuance of this Ordinance, do either or both of the follow- ing things, namely-
Power of
unlimited company to
provide for
reserve share capital on re-registra- tion.
c. 23, s. 53.
(a) increase the nominal amount of its share capital by 19 & 20 Geo. 5,
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;
(b) 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.
[55
47
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