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Companies Act 1967 · s 78K
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Companies Act 1967 · s 78K
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
Where a company’s share capital is reduced under any provision of this Division, a member of the company (past or present) is not liable in respect of the issue price of any share to any call or contribution greater in amount than the difference (if any) between —
the issue price of the share; and
the aggregate of the amount paid up on the share (if any) and the amount reduced on the share.