Return of allotments required within statutory period; filing, contract disclosure and penalties apply for companies in allotment compliance. Companies must file, within thirty days of any allotment, a return stating number and nominal amount of shares allotted, names, addresses and occupations of allottees, and amounts paid or payable; cash allotments must not be shown unless cash received. Non-cash allotments require filing and production of the stamped written contract (or, if unwritten, prescribed stamped particulars) and returns as to paid-up extent and consideration. Registrar may extend the period; officers in default face daily fines, with enhanced penalty for misrepresenting cash receipt. Excludes forfeited-share allotments under articles.
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Return of allotments required within statutory period; filing, contract disclosure and penalties apply for companies in allotment compliance.
Companies must file, within thirty days of any allotment, a return stating number and nominal amount of shares allotted, names, addresses and occupations of allottees, and amounts paid or payable; cash allotments must not be shown unless cash received. Non-cash allotments require filing and production of the stamped written contract (or, if unwritten, prescribed stamped particulars) and returns as to paid-up extent and consideration. Registrar may extend the period; officers in default face daily fines, with enhanced penalty for misrepresenting cash receipt. Excludes forfeited-share allotments under articles.
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