58
In forceNo interest or dividend to be paid out of capital
Part 2General provisions
Division 8Accounts, deposits, dividends, borrowing etc
58 No interest or dividend to be paid out of capital
Where the promoters are a corporation, having a capital divided into shares, and have been authorised by Act of Parliament to raise capital either by means of calls on such shares or by any power of borrowing, the promoters shall not pay out of such capital any interest or dividend in respect of calls.
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.