SCHEDULE 1MODEL ARTICLES FOR PRIVATE COMPANIES LIMITED BY SHARES
PART 3SHARES AND DISTRIBUTIONS
SHARES
All shares to be fully paid up
21.
(1)
No share is to be issued for less than the aggregate of its nominal value and any premium to be paid to the company in consideration for its issue.
(2)
This does not apply to shares taken on the formation of the company by the subscribers to the company’s memorandum.