# Companies (Consolidation) Act 1908, Paragraph 14


If a sum called in respect of a share is not paid before or on the day appointed for payment thereof, the person from whom the sum is due shall pay interest upon the sum at the rate of five pounds per cent. per annum from the day appointed for the payment thereof to the time of the actual payment, but the directors shall be at liberty to waive payment of that interest wholly or in part.

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Source: https://www.legislation.gov.uk/ukpga/Edw7/8/69/schedule/FIRST/paragraph/14 (the official version)
Page: https://openlegislation.uk/companies-consolidation-act-1908/schedule-FIRST/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.