368

Ch. 31. No. 1.| Companies.

(3) Every prospectus relating to the issue of the shares
and every balance sheet issued by the company subsequently
to the issue of the shares must contain particulars of the
discount allowed on the issue of the shares or of so much
of that discount as has not been written off at the date of
the issue of the document in question.

If default is made in complying with this subsection,
the company and every officer of the company who is in
default shall be hable to a default fine.

Miscellaneous provisions as lo share capital.

50. \ company if so authorised by its articles, may do
any one or more of the following things >

(1) make arrangements on the issue of shares for a
difference between the shareholders in the amounts and
times of payment of calls on their shares ;

(2) accept from any member the whole or a part of
the amount remaining unpaid on any shares held by
him, although no part of that amount has been called
up;

(3) pay dividend in proportion to the amount paid
up on each share where a larger amount is paid up on
some shares than on others.

51. A limited company may by special resolution ceter-
mine that any portion of its share capital which has not
been already called up shall not be capable of being called
up, *xcept in the event and for the purposes of the company
being wound up, and thereupon that portion of its share

capital shall not be capable of being called up except in the
event and for the purposes aforesaid,

52. (1) A company limited by shares or a company
limited by guarantee and having a share capital, if so
authorised by its article., may alter the conditions of its
memorandum as follow. that is to say, it may—

(a4) increase ity share capital by new shares of such
wmMnount as it thinks expedient;

(b) consolidate and divide all er any of its share
capital into shares of larger amount than its existing
share.