Section 51: Power of unlimited company to provide for reserve share capital on conversion of
The Companies Act, 2017 · Federal Acts · in_force
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51. Power of unlimited company to provide for reserve share capital on conversion of status to a limited company.—An unlimited company having a share capital may, by its resolution for registration as a limited company in pursuance of this Act, increase the nominal amount of its share capital by increasing the nominal amount of each of its shares, subject to the condition that no part of the amount by which its capital is so increased shall be capable of being called up except in the event and for the purpose of the company being wound up.
Effective date: 2017-05-30
Related sections
Section 50: Issue of certificate and effects of conversionSection 52: Consequence of default in complying with conditions constituting a company a privateSection 49: Conversion of a company limited by guarantee to a company limited by shares andSection 53: Service of documents on a companySection 48: Conversion of status of unlimited company as limited company and vice-versaSection 54: Service of documents on Commission or the registrar
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