2011年ACCA公司法和商法F4(双语)讲义：第二十四章
24 Share capital1 Definition
1.1 "A share is a right to a specified amount of the share capital of a company, carrying with it certain rights and liabilities, while the company is a going concern and in its winding up".
It "consists of a series of mutual covenants".
Classification
1.2 Share capital is a term used in a variety of senses.
(a) Authorised Share Capital: Total amount of share capital which the company is authorised to issue.
(b) Issued Share Capital: Nominal value of shares which have been issued to members.
(c) Called Up Share Capital: Aggregate amount of calls which a member is required to pay.
(d) Paid Up Share Capital: Aggregate amount of money paid up on shares which have been issued.
(e) Reserve Capital: Capital which the company has resolved not to call except in the course of winding up. s.120.
2 Power of company limited by shares to alter its authorised share capital s.121
Basic objective
2.1 This section applies only to a company’s authorised capital, not to its issued capital.
Authorities needed
2.2 (a) A power in the articles; or
(b) An ordinary resolution of members in general meeting.
Filing requirements
2.3 A copy of the memorandum plus the ordinary resolution must be sent to the Registrar within 15 days.
Other purposes
2.4 It is used for increasing, consolidating, sub‑dividing or reducing the amount stated as its authorised capital in the memorandum.
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