Loans Loans
And with respect to the conversion of the borrowed money into capital, be it enacted as follows:
- 56Power to convert loan into capital.
- 57New shares to be considered same as original shares.
- 58If old shares at premium, new shares to be offered to the shareholders.
- 59Shares to vest in the parties accepting; otherwise to be disposed of by the directors.
- 60If not at a premium, to be issued as company think fit.