Companies Clauses Act 1863
Companies Clauses Act 1863 (1863 c. 118)
- Companies Clauses Act 1863 (1863 c. 118)
- 1 Short title.
- 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part I Cancellation and Surrender of Shares
- 3 Application of Part I.
- 4 Power to company to cancel forfeited shares.
- 5 Evidence for cancellation of forfeited shares.
- 6 Payment of calls in arrear notwithstanding cancellation.
- 7 Value of forfeited shares to be deducted from amount due in respect thereof.
- 8 Company may cancel forfeited shares with consent of holders.
- 9 As to surrender of shares.
- 10 No money to be paid for cancellation or surrender.
- 11 Power to create shares in lieu of cancelled forfeited, &c., shares.
- Part II Additional Capital
- New Ordinary Shares or Stock
- 12 Regulations as to creation and issue of ordinary shares or new ordinary stock.
- Preference Shares or Stock
- 13 Regulations as to creation and issue of new preference shares or new preference stock. Saving rights of preference shareholders.
- 14 Preference shares to be entitled to dividends only out of the profits of each year.
- 15 Terms, &c. to be stated on certificates.
- General Provisions as to new Shares or Stock
- 16 Unissued shares and stock may be cancelled.
- 17 If ordinary stock or shares at a premium, new shares or stock to be offered to existing ordinary shareholders.
- 18 Offer to be made by letter.
- 19 New shares or stock to vest on acceptance.
- 20 As to disposal of new shares or stock to others. Power to enlarge time for accepting new shares or stock.
- 21 General power to dispose of unappropriated new shares and stock.
- Part III Debenture Stock
- 22 Regulations as to creation and issue of debenture stock.
- 23 Debenture stock to be a prior charge.
- 24 Interest on debenture stock to be a primary charge.
- 25 Payment of arrears may be enforced by appointment of Receiver or Judicial Factor.
- 26 Mode of appointing Receiver or Judicial Factor.
- 27 Arrears may be recovered by action or suit.
- 28 Debenture stock to be registered.
- 29 Company to deliver certificate to holders of debenture stock.
- 30 Mortgages, not affected by this Act.
- 31 Holders of debenture stock not to vote.
- 32 Application of money raised.
- 33 Separate accounts of debenture stock.
- 34 Borrowing powers extinguished to extent of debenture stock.
- 35 Application of Part III. to mortgage preference stock, and funded debt.
- Part IV Change of Name
- 36 Continuance of powers.
- 37 Actions, &c. not to abate.
- 38 General saving of rights.
- 39 Contracts, &c. preserved.
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