Liability to pay calls
This section has no associated Explanatory Memorandum
55.—(1) Liability to pay a call is not extinguished or transferred by transferring the shares in respect of which it is required to be paid.
(2) Joint holders of a share are jointly and severally liable to pay all calls in respect of that share.
(3) Subject to the terms on which shares are allotted, the directors may, when issuing shares, provide that call notices sent to the holders of those shares may require them—
(a)to pay calls which are not the same, or
(b)to pay calls at different times.