Secretarial practice

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

504 SECRETARIAL PRACTICE Notice ofin- * B52.~—(1) Where a company having a share capital, whether its ore share 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 authorising the increase, give to the registrar of companies 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 of companies together with the notice a printed copy of the resolution authorising 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. Power of un- 53. An unlimited company having a share capital may, by its Ee pany resolution for registration as a limited company in pursuance of rasoEve Share this Act, do either or both of the following things, namely :— en (x) Increase the nominal amount of its share capital by in- creasing the nominal amount of each of its shares, but sub- ject 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; 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. Power of com- 54.—(1) Where any shares of a company are issued for the pany lo pay purpose of raising money to defray the expenses of the construction capital in certain Of any works or buildings or the provision of any plant which cannot cases. be made profitable for a lengthened period, the company may pay interest on so much of that share capital as is for the time being paid up for the period and subject to the conditions and restrictions in this section mentioned, and may charge the sum so paid by way of interest to capital as part of the cost of construction of the work or building, or the provision of plant: : Provided that— (a) No such payment shall be made unless it is authorised by the articles or by special resolution: No such payment, whether authorised by the articles or by special resolution, shall be made without the previous sanction of the Board of Trade: Before sanctioning any such payment the Board of Trade may, at the expense of the company, appoint a person to inquire and report to them as to the circumstances of the case, and may, before making the appointment, require the company to give security for the payment of the costs of the inquiry:

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