# Companies Act 1948, Paragraph 1


Where in the case of a company limited by guarantee and having a share capital or an unlimited company having a share capital, an increase of share capital is made at the same time as an increase of membership, the company shall pay whichever fee is the higher, but not both.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/schedule/TWELFTH/paragraph/1 (the official version)
Page: https://openlegislation.uk/companies-act-1948/schedule-TWELFTH/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.