Uniform calls on shares must be made across a class; equal nominal value shares with different paid up amounts excluded. Section 91 requires that calls for further share capital made after the Act's commencement be imposed uniformly on all shares of the same class, and explains that shares of the same nominal value with different paid-up amounts are not regarded as within the same class for this purpose.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Uniform calls on shares must be made across a class; equal nominal value shares with different paid up amounts excluded.
Section 91 requires that calls for further share capital made after the Act's commencement be imposed uniformly on all shares of the same class, and explains that shares of the same nominal value with different paid-up amounts are not regarded as within the same class for this purpose.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.