https://www.taxtmi.com/acts?id=12430 Restrictions require companies with share capital to meet statutory preconditions before commencing business or borrowing: where a prospectus is issued, the company must achieve the minimum subscription, ensure directors pay prescribed proportions on their shares, prevent repayment liabilities for failure to obtain dealing permission, and file a duly verified declaration with the Registrar; where no prospectus is issued, a statement in lieu of prospectus and the directors' payments plus a verified declaration must be filed. The Registrar's certificate is conclusive and contracts made before entitlement are provisional. en-us Mon, 09 May 2011 13:27:31 +0530 Mon, 09 May 2011 17:56:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12430 Restrictions require companies with share capital to meet statutory preconditions before commencing business or borrowing: where a prospectus is issued, the company must achieve the minimum subscription, ensure directors pay prescribed proportions on their shares, prevent repayment liabilities for failure to obtain dealing permission, and file a duly verified declaration with the Registrar; where no prospectus is issued, a statement in lieu of prospectus and the directors' payments plus a verified declaration must be filed. The Registrar's certificate is conclusive and contracts made before entitlement are provisional. Act-Rules Companies Law Mon, 09 May 2011 13:27:31 +0530 https://www.taxtmi.com/acts?id=12430