Reserve share capital on conversion: permit increased nominal capital or designated uncalled capital only callable on winding up. An unlimited company resolving to register as a limited company may increase the nominal amount of each share so that the increased capital is only callable in the event and for the purposes of winding up, and/or may provide that a specified portion of its uncalled share capital shall not be capable of being called up except in the event and for the purposes of winding up.
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.
Reserve share capital on conversion: permit increased nominal capital or designated uncalled capital only callable on winding up.
An unlimited company resolving to register as a limited company may increase the nominal amount of each share so that the increased capital is only callable in the event and for the purposes of winding up, and/or may provide that a specified portion of its uncalled share capital shall not be capable of being called up except in the event and for the purposes of winding up.
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