Section 22Calls for share money

Section 22: Calls for share money

22. Calls for share money

* * * The Directors of the said Association shall have authority to call on the proprietors to pay such instalment or instalments as shall, together with the instalments already paid, amount to a sum not exceeding 50 per cent. on each share; and * * * no further call shall be made, except in consequence of a vote of a general meeting of the proprietors, authorising such further call; provided always that no proprietor shall be called upon to pay more in proportion to his share in the Capital Stock than any other proprietor.

Amendment notes (1)
  1. 1omitted The words "And it is hereby enacted, that" omitted by Act 12 of 1891, s. 2 and Sch. I.