Section 59: Consent to issue of shares
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
59. Consent to issue of shares
The issue by a company of a share that—
(a) increases a liability of a person to the company; or
(b) imposes a new liability on a person to the company,
shall be void where that person, or his agent who is authorised in writing,
does not consent in writing to becoming the holder of the share before it is
issued.
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Questions this section answers
- Do I need to consent in writing before a company can issue me a share that increases my liability?