The Company's Ordinance, 1984 - PakSearch.com

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PART VI
SHARE CAPITAL AND DEBENTURES NATURE, NUMBERING AND CERTIFICATE OF SHARES

89. Nature of shares and certificate of shares.

CLASSES AND KINDS OF SHARES

90. Classes and kinds of share capital.

GENERAL PROVISIONS AS TO SHARE CAPITAL

91. Only fully paid shares to be issued.

92. Power of company limited by shares to alter its share capital.

93. Notice to register of consolidation of share capital, etc.

94. Notice of increase of share capital or of members.

95. Prohibition of purchase or grant of financial assistance by a company for purchase of its own or its holding company's shares.

REDUCTION OF SHARE CAPITAL

96. Reduction of share capital.

97. Application to Court for confirming order.

98. Addition to name of company of 'and reduced'.

99. Objection by creditors and settlement of list of objecting creditor.

100. Power to dispense with consent of creditor on security being given for his debt .

101. Order confirming reduction.

102. Registration of order and minute of reduction.

103. Minute to form part of memorandum.

104. Liability, of members in respect of reduced shares.

105, Publication of reasons for reduction.

107. Increase and reduction of share capital in case of a company limited by guarantee having a share capital.

VARIATION OF SHAREHOLDERS' RIGHTS

108. Variation of shareholders' rights.

REGISTRATION OF UNLIMITED COMPANY AS LIMITED

109. Registration of unlimited company as limited.

110. Power of unlimited company to provide for reserve share capital on registration.

UNLIMITED LIABILITY OF DIRECTORS

111. Limited company may have directors with unlimited liabilited.

112. Special resolution of limited company making liability of directors unlimited.

SPECIAL PROVISIONS AS TO DEBENTURES

113. Right of debenture-holder and shareholder to have copies of trust-deed.

114. Debentures not to carry voting rights.

115. Perpetual debentures.

116. Power to re-issue redeemed debentures in certain cases.

117. Specific performance of contract to subscribe for debentures.

118. Payment of certain debts out of assets subject to floating charge in priority to claims under the charge.

119. Powers and liabilities of trustee.

120. Issue of securities and redeemable capital not based on interest.

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