Part I Cancellation and Surrender of SharesC1

1. 3Application of Part I.
2. 4Power to company to cancel forfeited shares.
3. 5Evidence for cancellation of forfeited shares.
4. 6Payment of calls in arrear notwithstanding cancellation.
5. 7Value of forfeited shares to be deducted from amount due in respect thereof.
6. 8Company may cancel forfeited shares with consent of holders.
7. 9As to surrender of shares.
8. 10No money to be paid for cancellation or surrender.
9. 11Power to create shares in lieu of cancelled forfeited, &c., shares.