LawgistThe Companies Act
65Unlimited company to provide for reserve share capital on conversion into limited company
An unlimited company having a share capital may, by a resolution for registration as a limited company under this Act, do either or both of the following things, namely--
(a) increase the nominal amount of its share capital by increasing the nominal amount of each of its shares, subject to the condition that no part of the increased capital shall be capable of being called up except in the event and for the purposes of the company being wound up;
(b) 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 the company being wound up.
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SHARE CAPITAL AND DEBENTURES
- 43 Kinds of share capital
- 44 Nature of shares or debentures
- 45 Numbering of share
- 46 Certificate of shares
- 47 Voting right
- 48 Variation of shareholders‘ right
- 49 Calls on shares of same class to be made on uniform basis
- 50 Company to accept unpaid share capital, although not called up
- 51 Payment of dividend in proportion to amount paid-u
- 52 Application of premiums received on issue of shares
- 53 Prohibition on issue of shares at discount
- 54 Issues of sweat equity share
- 55 Issue and redemption of preference shares
- 56 Transfer and transmission of securities
- 57 Punishment for personation of shareholder
- 58 Refusal of registration and appeal against refusal
- 59 Rectification of register of members
- 60 Publication of authorised, subscribed and paid-up capital
- 61 Power of limited company to alter its share capital
- 62 Further issue of share capital
- 63 Issue of bonus share
- 64 Notice to be given to Registrar for alteration of share capital
- 65 Unlimited company to provide for reserve share capital on conversion into limited company
- 66 Reduction of share capital
- 67 Restrictions on purchase by company or giving of loans by it for purchase of its shares
- 68 Power of company to purchase its own securities
- 69 Transfer of certain sums to capital redemption reserve account
- 70 Prohibition for buy-back in certain circumstances
- 71 Debenture
- 72 Power to nominate
