Manner of calls: issuers must call outstanding subscription within specified period; nonpayment can lead to forfeiture unless a monitoring agency is appointed. Outstanding subscription money received by calls must be called within twelve months from allotment and, if unpaid within that period, the equity shares with calls in arrear and the subscription money already paid shall be forfeited; this twelve month calling requirement is not mandatory if a monitoring agency has been appointed in terms of the preceding regulation.