# Companies (Consolidation) Act 1908, Paragraph 28


A person whose shares have been forfeited shall cease to be a member in respect of the forfeited shares, but shall, notwithstanding, remain liable to pay to the company all moneys which, at the date of forfeiture, were presently payable by him to the company in respect of the shares, but his liability shall cease if and when the company receive payment in full of the nominal amount of the shares.

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Source: https://www.legislation.gov.uk/ukpga/Edw7/8/69/schedule/FIRST/paragraph/28 (the official version)
Page: https://openlegislation.uk/companies-consolidation-act-1908/schedule-FIRST/paragraph-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.