Section 36Part 3 — Distribution of Capital and Liability of Members
Power of company to pay commissions
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A company has the power, and shall be deemed always to have had the power, to pay a commission to any person in consideration of that person subscribing or agreeing to subscribe (whether absolutely or conditionally) for any shares in the company, or procuring or agreeing to procure subscriptions (whether absolute or conditional) for any shares in the company, if the payment of the commission is authorised by the articles of association of the company.
Nothing in subsection (1) affe cts the power of a company to pay such brokerage as has previously been lawful.
A vendor to, or promoter of, or other person who receives payment in money or shares from a company has, and is deemed always to have had, power to apply any part of the mo ney or shares so received in payment of any commission, the payment of which, if made directly by the company, would have been lawful under subsection (1).