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Part IIDistribution and Reduction of Share Capital, Registration of Unlimited Company as Limited, and Unlimited Liability of Directors

Reserve Liability of Limited Company

59Reserve liability of limited company

A limited company may by special resolution determine that any portion of its share capital which has not been already called up shall not be capable of being called up, except in the event and for the purposes of the company being wound up, and thereupon that portion of its share capital shall not be capable of being called up except in the event and for the purposes aforesaid.