894 
Capital—continued 
Board of Trade’s sanction, 186 
‘ issued,” 3I 
loan capital, definition of, 356 
duty on, 356, 383, 388. Aud see Stamp duty. 
by whom payable, 356 
consolidation of, as to duty when, 356 
on what charged, 362 
how secured, 360 
memorandum of association must state, 10, 31 
how altered, 31 ef seq. 
net profits and, distinction between, 188 
new, issue of, 50, 54 
nominal capital, 31 
notice of increase, etc., of, to be sent to registrar, 32, 33, 34 
“paid up,’ 31 
premium, issued at a, 172, 173 
reduction of, 34-36. And see Reduction of capital. 
articles must authorise, 34 
how effected, 34, 35 
in what ways company may carry out, 34, 35 
minute approved by Court, 36 
order and minute to be produced to registrar, 36 
petition to Court, 34-36 
sanction of Court, if required, 35 
words ‘and reduced’ may be ordered to be added, 36 
reorganisation, 34, 209. And see Reconstruction. 
how effected, 209 
majority required if particular class is to be affected, 222 
methods of, 209 
share. See Shares. 
agreement to take, 41 
alteration of, 37, 38 
articles may define, 37 
certificates, 42. And see Certificates. 
how far binds company, 42 
choses in action, are, 37 
classes of, 37 
commission on, 39 
discount, issue at a, when legal, 39, 97 
effect of illegal, on an allottee, 39 
estoppel against company, 42 
loss how borne on reduction of capital, 38 
memorandum of association defines class, 37 
nature of, 37 
preferential right in, 38 
premium, issue at a, 40 
private company must have a share, 289 
redeemable preference, 39 
who may hold, 41 
stamp duty on registration of companies, table of fees, 379 
not in case of unlimited company, 381 
stock, how differs from shares; 33 
sub-division of, 34 
articles must authorise, 34 
general meeting, must be effected in, 34 
proportions, shares may be split into, 34 
mnpaid lability, proportions preserved, 34 
INDEX