72(1)If after such demand or notice as is prescribed by letters patent, or by resolution of the directors, or by the by-laws of the company, any call made upon any share is not paid within such time as by such letters patent or resolution of the directors or the by-laws is limited in that behalf, the directors, in their discretion, by vote to that effect duly recorded in their minutes, may summarily declare forfeited any shares whereon such call is not paid.

72(2)Shares so declared forfeited thereupon become the property of the company, and may be disposed of as the company, by by-law or otherwise, prescribes.

72(3)Notwithstanding such forfeiture, the holder of such shares at the time of forfeiture continues liable to the creditors of the company at such time for the full amount unpaid on the shares at the time of forfeiture, less any sums that are subsequently received by the company in respect thereof.

72(1)If after such demand or notice as is prescribed by letters patent, or by resolution of the directors, or by the by-laws of the company, any call made upon any share is not paid within such time as by such letters patent or resolution of the directors or the by-laws is limited in that behalf, the directors, in their discretion, by vote to that effect duly recorded in their minutes, may summarily declare forfeited any shares whereon such call is not paid.

72(2)Shares so declared forfeited thereupon become the property of the company, and may be disposed of as the company, by by-law or otherwise, prescribes.

72(3)Notwithstanding such forfeiture, the holder of such shares at the time of forfeiture continues liable to the creditors of the company at such time for the full amount unpaid on the shares at the time of forfeiture, less any sums that are subsequently received by the company in respect thereof.