FURTHER
GUIDANCE ABOUT TOTAL AMOUNT AGREED TO BE PAID PER SHARE
This is the total amount the member/shareholder agrees to pay for EACH SHARE
in the proposed company, irrespective of when it will be payable.
It may be as little as $'0.00' or as much as you like.
This amount may be agreed to be payable:
- entirely on incorporation,
OR
- partly on incorporation and partly subsequent to incorporation,
OR
- entirely subsequent to incorporation.
The member/shareholder will be legally bound to pay this amount to the company.
Where should this money (if any) go?/To whom should it be paid?
To the extent that it is paid on incorporation, this amount -
- will form part of the company's initial capital; and
- ought (as a matter of good practice) be the paid into the company's
bank account as the first deposit.
To the extent that it is paid subsequent to incorporation, this amount -
- will also form part of the company's capital; and
- ought (as a matter of good practice) be the paid into the company's
bank account.
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