Section 50 — Company to accept unpaid share capital, although not called up
(1) A company may, if so
authorised by its articles, accept from any member, the whole or a part of the amount remaining unpaid on
any shares held by him, even if no part of that amount has been called up.
(2) A member of the company limited by shares shall not be entitled to any voting rights in respect of
Related sections
- Section 43 — Kinds of share capital
- Section 44 — Nature of shares or debentures
- Section 45 — Numbering of shares
- Section 46 — Certificate of shares
- Section 47 — Voting rights
- Section 48 — Variations of shareholders’ rights
- Section 49 — Calls on shares of same class to be made on uniform basis
- Section 51 — Payment of dividend in proportion to amount paid-up
- Section 52 — Application of premiums received on issue of shares
- Section 53 — Prohibition on issue of shares at discount
- Section 54 — Issue of sweat equity shares
- Section 55 — Issue and redemption of preference shares
- Section 57 — Punishment for personation of shareholder
- Section 58 — Refusal of registration and appeal against refusal
- Section 59 — Rectification of register of members
- Section 60 — Publication of authorised, subscribed and paid -up capital
- Section 61 — Power of limited company to alter its share capital
- Section 62 — Further issue of share capital
- Section 63 — Issue of bonus shares
- Section 64 — Notice to be given to Registrar for alteration of share capital
- Section 65 — Unlimited company to provide for reserve share capital on conversion into limited
- Section 66 — Reduction of share capital
- Section 67 — Restriction on purchase by company or giving of loans by it for purchase of its shares
- Section 68 — Power of company to purchase its own securities
- Section 69 — Transfer of certain sums to capital redemption reserve account
- Section 70 — Prohibition for buy-back in certain circumstances
- Section 71 — Debentures
- Section 72 — Power to nominate