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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 59

Shares to vest in the parties accepting; otherwise to be disposed of by the directors.

59. The said new shares shall vest in and belong to the shareholders who shall
accept the same, and pay the value thereof to the company at the time and by
the instalments which shall be fixed by the company; and if any shareholder
fail for one month after such offer of new shares to accept the same, and pay
the instalments called for in respect thereof, it shall be lawful for
the company to dispose of such shares in such manner as they shall deem most
for the advantage of the company.


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© 1845 Crown Copyright

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