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Companies Clauses Consolidation (Scotland) Act 1845

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This is the original version (as it was originally enacted).

Execution against Shareholders

And with respect to the Remedies of Creditors of the Company against the Shareholders, be it enacted as follows :

XXXVIIIExecution against Shareholders to the Extent of their Shares in Capital not paid up.

If any legal Diligence or Execution shall have been issued against the Property or Effects of the Company, and if there cannot be found sufficient whereon to levy under such Diligence or Execution, then such Diligence or Execution may be used against any of the Shareholders to the Extent of their Shares respectively in the Capital of the Company not then paid up ; and for the Purpose of ascertaining the Names of the Shareholders, and the Amount of Capital remaining to be paid upon their respective Shares, it shall be lawful for any Person entitled to any such Execution, at all reasonable Times, to inspect the Register of Shareholders without Fee.

XXXIXReimbursement of such Shareholders.

If by means of any such Diligence or Execution any Shareholder shall have paid any Sum of Money beyond the Amount then due from him in respect of Calls, he shall forthwith be reimbursed such additional Sum by the Directors out of the Funds of the Company.

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