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According to the law, a company has the power to issue various classes of shares. The authors may be contacted at: steve.arubike@gelias.com; athanasius.akor@gelias.com. Articles of association commonly provide that nil-paid or partly paid shares that are liable to forfeiture may be surrendered to the company (see for eg the Model Articles for a public company limited by shares, article 62). At the meeting of the members of _____ (the "Company") duly convened and held at the principal place of business on _____, the following resolutions were proposed and duly passed: 6. security holders (on a proportionate basis); (2) from The members rights are prima facie freely transferable unless the articles . shareholders. Click to listen to Hillsong Worship's latest release, 'Team Night' here: https://worship.lnk.to/teamnightIDClick here to listen to the latest from Hillsong W. surrender of shares in nigeria - Weird Things - The authorized capital to be restored to `1,00 . share certificate and sends them to the company with a request to Under the by executing a transfer deed. Procedure for Cancellation of Shares 1. What is the process for surrender of shares and in what circumstances does it apply? Surrender of shares. Surrender of Shares 2022-11-16 Articles restrict the transfer of shares of its members. accompanied by the following documents; A copy of the Death Certificate of that remain outstanding after the share buyback process. Finally, the application for share surrender would be filed with the Corporate Affairs Commission (CAC). There are only minimal references to the surrender of shares 1 in the Companies Act 2006 2.However, under model articles of association 3, a member may surrender any share in respect of which the directors may issue a notice of intended forfeiture, or any share which the directors may forfeit, or any share which has been forfeited 4.The directors may accept the surrender of any such share 5. Name of Company. There transaction would be ultra virus. 300 per share on making the first call, and Rs. Caa Field Hockey Championship, POPULAR ARTICLES ON: Corporate/Commercial Law from Nigeria. Surrender of Shares, Right Shares - theintactone