Section 593(3)

If a company allots shares in contravention of subsection (1) and either— the allottee is liable to pay the company 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 consideration), with interest at the appropriate rate. the allottee has not received the valuer's report required to be sent to him, or there has been some other contravention of the requirements of this section or section 596 that the allottee knew or ought to have known amounted to a contravention,

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