[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> COMPANIES CLAUSES ACT 1863

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

COMPANIES CLAUSES ACT 1863 - SECT 12

12. Where any company incorporated either before or after the passing of
this Act for the purpose of carrying on any undertaking, is authorized by any
special Act hereafter passed and incorporating this part of this Act, to raise
any additional sum or sums by the issue of new ordinary shares, or by the
issue of new ordinary stock, or (at the option of the company) by either of
those modes,then and in every such case the company, with the sanction of such
proportion of the votes of the shareholders and stockholders entitled to vote
in that behalf at meetings of the company, present (personally or by proxy) at
a meeting of the company specially convened for the purpose, as is prescribed
in the special Act, and, if no proportion is prescribed, then of three fifths
of such votes, may, for the purpose of raising the additional sum or sums,
from time to time create and issue, (according as the authority given by the
special Act extends to shares only, or to stock only, or to both,) such new
ordinary shares, of such nominal amount, and subject to the payment of calls
of such amounts and at such times, as the company thinks fit, or such new
ordinary stock as the company thinks fit.

Regulations as to creation and issue of new preference shares or new
preference stock.

© 1863 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/cca1863180/s12.html