1* * * The sum of Rs. 10,00,000 subscribed for the purpose of the said Association by the persons hereby incorporated, shall be the Capital Stock of the said Association, and shall be divided into 2,000 shares of 500 Rupees each, and 2* * * every one of the persons hereby incorporated shall have one share of such Capital Stock for every 500 Rupees which such person shall have subscribed.
Source footnotes
1. The word “that” omitted by Act 12 of 1891 s. 2 and Sch. I.2. The words “And it is hereby enacted, that” omitted by Act 12 of 1891, s. 2 and Sch. I.
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More sections of this act
Section 1 · Incorporation.Section 2 · Power to sue and be sued, and to acquire, hold and transfer property.Section 4 · Registering of names of proprietors. Register to be open to inspection.Section 5 · Share-certificates.Section 6 · Transfer of shares.Section 7 · Proprietors of shares to be members of Association.Section 8 · First Directors of Association.Section 9 · Removal and election of Directors.India Code, Government of India. Text fetched 16 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.