1984 Ed.]
Companies
[CAP. 32
63
54. (1) If a company having a share capital has-
(a) consolidated and divided its share capital into shares of
larger amount than its existing shares; or
(b) converted any shares into stock; or
(c) re-converted stock into shares; or
Notice to Registrar of consolidation of share capital, conversion of shares into stock, &c.
1929 c. 23, s. 51.
(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 1 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.
55. (1) Where a company having a share capital, whether its shares have or have not been converted into stock, has increased its share capital beyond the registered capital, it shall within 15 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.
56. An unlimited company having a share capital may, by its resolution for re-registration as a limited company under section 19, do either or both of the following things, namely
(Amended, 6 of 1984, s. 25)
(a) increase the nominal amount of its share capital by 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.
Notice of increase of share capital.
1929 c. 23, s. 52.
Power of unlimited company to provide for reserve share capital on re-registration.
1929 c. 23, s. 53.
1984 Ed.]
Companies
[CAP. 32
63
54. (1) If a company having a share capital has-
(a) consolidated and divided its share capital into shares of
larger amount than its existing shares; or
(b) converted any shares into stock; or
(c) re-converted stock into shares; or
Notice to Registrar of consolidation of share capital. conversion of shares into stock, &c.
1929 c. 23, s. 51.
(d) subdivided its shares or any of them; or
(e) redeemed any redeemable preference shares; or
(ƒ) cancelled any shares, otherwise than in connexion with a
reduction of share capital under section 58,
it shall within 1 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 cancel- led, 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.
55. (1) Where a company having a share capital, whether its shares have or have not been converted into stock, has increased its share capital beyond the registered capital, it shall within 15 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 fme.
a
56. An unlimited company having a share capital may, by its resolution for re-registration as a limited company under section 19, do either or both of the following things, namely 1984, s. 25)
(Amended, 6 of
(a) increase the nominal amount of its share capital by increas- ing 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.
Notice of
increase of share capital.
1929 c. 23, s. 52.
Power of unlimited company to
provide for
reserve share capital on re-registration.
1929 c. 23, s. 53.
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