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The Pamphlet Collection of Sir Robert Stout: Volume 68



14. Exclusive of the sums paid on application for and allotment of shares all calls shall be made monthly, and shall be of three pence per share; and each member shall pay the amount of every call so made on him to the persons and at the place appointed by the Directors.

15. A call shall be deemed to have been made at the time when the resolution of the Directors authorising such call was passed.

16. If the sum payable in respect of any call or instalment is not paid on or before the day appointed for payment thereof, the holder for the time being of the share in respect of which the call shall have been made or the instalments shall be due, shall pay interest for the same at the rate of £10 per cent, per annum from the day appointed for payment thereof to the time of the actual payment. But the Directors may where they think fit, remit altogether or in part any sum becoming payable for interest under this clause.

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17. The Directors may receive from any member willing to advance the same, and upon such terms and conditions as they think fit, all or any part of the money due upon the shares held by such member beyond the sums paid up or payable thereon, and where the Company is indebted to a member in a sum presently payable, such member shall be entitled by notice in writing to require the Company to apply such sum or any part thereof in payment pro tanto of the amount remaining unpaid on any shares in the Company held by him and the Company shall be bound to comply with such requisition.

18. The Company may pay dividends in proportion to the amount called and paid up on each share in cases where a larger amount is paid up on some shares than on others.