s 142
In forceMinimum paid up amount
Part 7Shares
Division 3Issues of shares
142 Minimum paid up amount
(1)
A share in a co‑operative other than a transferred co‑operative must not be allotted unless at least 10% of the nominal value of the share has been paid.
(2)
Any balance unpaid for shares at the time of allotment must be paid in a way specified in the rules of the co‑operative or permitted by this Act.
(3)
This section does not apply to a bonus share issued under section 147 or 271.
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