Section 17: Prohibition of charge on unpaid capital — Banking Companies Ordinance, 1962

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17. Prohibition of charge on unpaid capital. No banking company shall create any charge upon any unpaid capital of the company and any such charge, if created, shall be invalid.

Effective date: 1962-06-07

Related sections

Section 16: Restriction on commission, brokerage, discount, etc. on sale of shares Section 18: Prohibition of floating charge on assets Section 15C: Fitness and propriety Section 19: Restrictions as to payment of dividend Section 15B: [Omitted.]Section 20: Prohibition of common directors

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