Lecture 8 - Sharecapital Chapter8 Overview...

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Share capital Chapter 8
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Overview Authorised & issued share  capital Allotment of shares Classes of shares Maintenance of share capital
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Definition of a share –  Gambotto v WCP ‘… property consisting of  proprietary rights…’ Borland’s Trustees v Steel  Bros & Co ‘… interest of a shareholder  in a company measured by a  sum of money.
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Authorised & issued  share capital Memorandum – s 18 authorised capital nominal or par value variation of authorised capital s 62 issued capital  Reserve or uncalled capital
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Issue of Shares Contractual rules Byrne v van Tienhoven Household Fire Insurance v  Grant
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Allotment of shares Definition of allotment – Raja  Khairulzaman Shah bin Raja  Aziddin v Zaman Indah sdn  Bhd consideration cash & non-cash non-cash consideration Salomon’s  case s 54(3) valuation problem
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Restrictions on  Allotment S.49 – application money to 
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  • Spring '14
  • allotment, preference shares, redeemable preference, Share capital Chapter

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