Section 128Part 5 — Company Restructuring and Winding Up
Effect of winding up on share capital of company limited by guarantee
←→ Navigate · Click subsection badges to collapse · Press ? for help
Where a company limited by guarantee and having a capital divided into shares is being wound up voluntarily, any share capital that may not have been called upon shall be deemed to be an asset of t he company, and to be a special ty debt due from each member to the company to the extent of any sums that may be unpaid on any shares held by that person , and payable at such time as may be appointed by the liquidator.