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Section 18 Sale of forfeited shares.

United Kingdom

Any share so forfeited shall be carried to an account to be called “The Account of Forfeited Shares,” and shall be deemed to be the property of the company, and may be disposed of in such manner as the company thinks fit; and any shareholder may purchase any such share if sold.

Notes on the whole Act

Textual amendments

F1

Act repealed (19.11.1998) by 1998 c.43, s.1(1), Sch. 1 Pt. X Group 1