Acts and Regulations

C-13 - Companies Act

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Advance payment for shares
71(1)The directors may receive from a shareholder willing to advance the same, beyond the sum then actually called for, all or any part of the amount remaining unpaid on shares held by such shareholder.
71(2)Upon the money, so paid in advance, or so much thereof as, from time to time, exceeds the amount of the calls then made upon the shares in respect of which the advance is made, the company may pay interest at a rate not exceeding eight per cent per annum that the shareholder who pays the sum in advance and the directors agree upon.
R.S., c.33, s.70
Advance payment for shares
71(1)The directors may receive from a shareholder willing to advance the same, beyond the sum then actually called for, all or any part of the amount remaining unpaid on shares held by such shareholder.
71(2)Upon the money, so paid in advance, or so much thereof as, from time to time, exceeds the amount of the calls then made upon the shares in respect of which the advance is made, the company may pay interest at a rate not exceeding eight per cent per annum that the shareholder who pays the sum in advance and the directors agree upon.
R.S., c.33, s.70