Section 587(4)

Where— the allottee is liable to pay the company, at the end of the period so allowed, an amount equal to the aggregate of the nominal value of the shares and the whole of any premium (or, if the case so requires, so much of that aggregate as is treated as paid up by the undertaking), with interest at the appropriate rate. a public company allots shares for a consideration which consists of or includes (in accordance with subsection (1)) an undertaking that is to be performed within five years of the allotment, and the undertaking is not performed within the period allowed by the contract for the allotment of the shares,

← 3 · All articles · 5 →

Source: legislation.gov.uk · retrieved 2026-09-04