[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 20

As to disposal of new shares or stock to others.

20. If any shareholder or stockholder fails for the time prescribed in the
special Act, and if no time is prescribed then for one month, after the offer
to him of new shares or new stock, to signify his acceptance of the same or
any part thereof, then and in every such case at the expiration of that period
he shall be deemed to have declined the offer of such new shares or new stock
or such part thereof as aforesaid, and the same may be disposed of by the
company as herein-after provided:Provided, that where a shareholder or
stockholder, from absence abroad or other cause satisfactory to the directors
of the company, omits to signify within the time aforesaid his acceptance of
the new shares or new stock offered to him, the directors, if they think
proper, may permit him to accept the same, notwithstanding that such time has
elapsed.

© 1863 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/cca1863180/s20.html