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The Pamphlet Collection of Sir Robert Stout: Volume 16

Compulsory Withdrawals

Compulsory Withdrawals.

60. If at any time the Directors shall be unable to dispose advantageously of the Society's funds, they may appoint a ballot to take place, at such time, and in such form as they may prescribe, to determine whose investing Shares shall be withdrawn. The Shareholder on whom the lot shall fall shall be obliged to accept the amount standing to his credit, as at the page 24 immediately preceding annual balance in respect of the Shares to be withdrawn, with the subscriptions subsequently paid and interest thereon. But no Shareholder shall again be subject to such ballot until all the Shares shall have once been subjected to such ballot.