Section 46A — Companies Act 1993: Consideration for issue of shares on registration

46A Consideration for issue of shares on registration A shareholder is not liable to pay or provide any consideration in respect of an issue of shares under section 41(a) unless— (a) The constitution of the company specifies the consideration to be paid or provided for those shares; or (b) The shareholder is liable to pay or provide consideration for those shares pursuant to either a pre-incorporation contract (within the meaning of section 182) or a contract entered into after the registration of the company. Section 46A was inserted, as from 30 June 1997, by section 4 Companies Act 1993 Amendment Act 1997 (1997 No 27).