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: