Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 65 lets unlimited companies ring-fence reserve share capital, callable only on winding up to safeguard creditors</h1> Section 65 permits an unlimited company with share capital, when resolving to register as a limited company, to create reserve share capital. It may increase the nominal amount of its share capital by raising the nominal value of each share, on condition that the additional capital is callable only upon winding up and for winding-up purposes. Alternatively, or additionally, it may designate a specified portion of its existing uncalled share capital as callable solely in the event of winding up. This mechanism protects creditors by reserving capital exclusively for liquidation scenarios.
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