Secretarial practice

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Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Other matters relating to shares

Collection:: Economics Books

CHAPTER IX DTHER MATTERS RELATING TO SHARES WE have dealt in Chapter V with the nature of shares, with share-certificates and membership, in Chapter VI with application and allotment, and in Chapter VIII with transfer and transmission. There are various other matters directly connected with shares, with which it is proposed to deal in this chapter. Assuming that a shareholder has paid the application and allotment money due upon his shares, and that, as is generally the case, the shares are not then fully paid, the matter of the machinery for securing the due pavment of the balance requires attention. By the terms of the contract, i.e. the conditions of allot- ment, the unpaid balance may be payable at fixed dates Thus, if 2s. 6d. for a £1 share is paid on application, and 2s. 64 on allotment, the balance may be made payable by instal- ments as follows: 5s. on June 1st, 5s. on July 1st, and 5s. on October 1st. Or the unpaid balance may be payable by certain instalments at not less than certain fixed intervals. Thus, by the conditions of allotment, the balance of (say) 15s., due after the allotment money is paid, may be payable by three instalments of 5s. each at intervals of not less than (say) two months. Or again, there may be no conditions as to the payment of the balance, in which case one or more calls will be made as and when the money may be required. Where the balance is by the terms of allotment payable at fixed dates, it is the duty of the shareholder to pay each instalment on the date fixed without a demand being made for it. It is, however, customary for a reminder to be sent. In the other cases mentioned, the directors (if, as is usual, the power is vested in them) will resolve that the next instal- ment of a fixed sum be called up, or that a call be made of Calls whatever amount is required, as the case may be. As to the liability of infants, see the notes at the .il this Chapter. A form of Resolution to make a call will be found in Chapter XIV. and a form of Call Letter in Appendix F (Form 27). a

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