# The Companies (Model Articles) Regulations 2008, Paragraph 21: All shares to be fully paid up

Extent: E+W+S+N.I.

(1) No share is to be issued for less than the aggregate of its nominal value and any premium to be paid to the company in consideration for its issue.
(2) This does not apply to shares taken on the formation of the company by the subscribers to the company’s memorandum.

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Source: https://www.legislation.gov.uk/uksi/2008/3229/schedule/1/paragraph/21 (the official version)
Page: https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-1/paragraph-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.