Supplementary provisions
558When shares are allotted
For the purposes of the Companies Acts shares in a company are taken to be allotted when a person acquires the unconditional right to be included in the company’s register of members in respect of the shares.
559Provisions about allotment not applicable to shares taken on formation
The provisions of this Chapter have no application in relation to the taking of shares by the subscribers to the memorandum on the formation of the company.