Clause 50 - Company to accept unpaid share capital, although not called up. - Companies Bill, 2011

Company to accept unpaid share capital, although not called up. 050. (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 the amount paid by him under sub-section (1) until that amount has been called up.