Part III Share Capital and Debentures (ss. 43-98)

AI Summary of Part III Share Capital and Debentures (ss. 43-98)

Version status: | Document consolidation status: Updated to reflect all known changes

Version date: 23 December 1963 - onwards

		Future version	Amendment requiring commencement	Draft proposed change
	Prospectus (ss. 43-52)
	43. Dating of prospectus.
	44. Matters to be stated and reports to be set out in prospectus.
	45. Exclusion of section 44 and relaxation of Third Schedule in case of certain prospectuses.
	46. Expert's consent to issue of prospectus containing statement by him.
	47. Registration of prospectus.
	48. Restriction on alteration of terms mentioned in prospectus or statement in lieu of prospectus.
	49. Civil liability for mis-statements in prospectus.
	50. Criminal liability for mis-statements in prospectus.
	51. Document containing offer of shares or debentures for sale to be deemed a prospectus.
	52. Interpretation of provisions relating to prospectuses.
	Allotment (ss. 53-58)
	53. Minimum subscription and amount payable on application.
	54. Prohibition of allotment in certain cases unless statement in lieu of prospectus delivered to registrar.
	55. Effect of irregular allotment.
	56. Applications for, and allotment of, shares and debentures.
	57. Allotment of shares and debentures to be dealt in on stock exchange.
	58. Return as to allotments.
	Commissions and Discounts and Financial Assistance for Purchase of Shares (ss. 59-60)
	59. Power to pay certain commissions, and prohibition of payment of all other commissions and discounts.
	60. Giving of financial assistance by a company for the purchase of its shares.
	Construction of references to offering Shares or Debentures to the Public (s. 61)
	61. Construction of references to offering shares or debentures to the public.
	Issue of Shares at Premium and Discount and Redeemable Preference Shares (ss. 62-65)
	62. Application of premiums received on issue of shares.
	63. Power to issue shares at a discount.
	64. Power to issue redeemable preference shares.
	65. Power to redeem preference shares issued before 5th May, 1959.
	Miscellaneous Provisions as to Share Capital (ss. 66-71)
	66. Power of company to arrange for different amounts being paid on shares.
	67. Reserve liability of limited company.
	68. Power of company to alter its share capital.
	69. Notice to registrar of certain alterations in share capital.
	70. Notice of increase of share capital.
	71. Power of unlimited company to provide for reserve share capital on re-registration.
	Reduction of Share Capital (ss. 72-77)
	72. Power of company to reduce its share capital.
	73. Application to court for confirming order, objections by creditors and settlement of list of objecting creditors.
	74. Order confirming reduction and powers of court on making such order.
	75. Registration of order and minute of reduction.
	76. Liability of members in respect of reduced shares.
	77. Penalty for concealment of certain matters in proceedings for reduction.
	Variation of Shareholders' Rights (s. 78)
	78. Rights of holders of special classes of shares.
	Numbering and Transfer of and Evidence of Title to Shares and Debentures (ss. 79-90)
	79. Nature of shares.
	80. Numbering of shares.
	81. Transfer not to be registered unless instrument of transfer delivered to the company.
	82. Transfer by personal representative.
	83. Registration of transfer at request of transferor.
	84. Notice of refusal to register transfer.
	85. Certification of transfers.
	86. Duties of company in relation to the issue of certificates.
	87. Evidence of title, probate and letters of administration.
	88. Issue and effect of share warrants to bearer.
	89. Validation of invalid issue, redemption or purchase of shares.
	90. Penalty of personation of shareholder.
	Special Provisions as to Debentures (ss. 91-98)
	91. Provisions as to register of debenture holders.
	92. Rights of inspection of register of debenture holders and to copies of register and trust deed.
	93. Liability of trustees for debenture holders.
	94. Perpetual debentures.
	95. Power to re-issue redeemed debentures.
	96. Saving of rights of certain mortgagees in case of re-issued debentures.
	97. Specific performance of contracts to subscribe for debentures.
	98. Preferential payments when receiver is appointed under floating charge.

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AI Summary of Part III Share Capital and Debentures (ss. 43-98)

Part III Share Capital and Debentures (ss. 43-98)