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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 29

Forfeiture of shares for nonpayment of calls.

29. If any shareholder fail to pay any call payable by him, together with the
interest, if any, that shall have accrued thereon, the directors, at any time
after the expiration of two months from the day appointed for payment of such
call, may declare the share in respect of which such call was payable
forfeited, and that whether the company have sued for the amount of such call
or not.


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