Loans Loans
And with respect to the conversion of the borrowed money into capital, be it enacted as follows:
- 59Power to convert loan into capital.
- 60New shares to be considered same as original shares.
- 61If old shares at premium, new shares to be offered to original shareholders.
- 62Shares to vest in the parties accepting; otherwise to be disposed of by the directors.
- 63If not at a premium, to be issued as company think fit.