http://www.legislation.gov.uk/ukpga/Vict/8-9/17/section/68
Companies Clauses Consolidation (Scotland) Act 1845
An Act for consolidating in One Act certain provisions usually inserted in Acts with respect to the Constitution of Companies incorporated for carrying on Undertakings of a public Nature in Scotland.
1978-03-01
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Statute Law Database
2015-12-16
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2009-11-23
Consolidation of Shares
68 Application of capital.
And be it enacted, that all the money raised by the company whether by subscriptions of the shareholders, or by loan or otherwise, shall be applied, firstly, in paying the costs and expences incurred in obtaining the special Act, and all expences incident thereto, and, secondly, in carrying the purposes of the company into execution.