Directors’ power to forfeit sharesU.K.
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Memorandwm Esboniadol
59. If a notice of intended forfeiture is not complied with before the date by which payment of the call is required in the notice of intended forfeiture, the directors may decide that any share in respect of which it was given is forfeited, and the forfeiture is to include all dividends or other moneys payable in respect of the forfeited shares and not paid before the forfeiture.
Commencement Information
I1Sch. 3 art. 59 in force at 1.10.2009, see reg. 1