C-38 - Companies Act

Section 160 Disposition versions

1977-12-31

160. The directors may, if they think fit, receive from any shareholder willing to advance the same, all or any part of the amounts due on the shares held by such shareholder, beyond the sums then actually called for; and upon the moneys so paid in advance, or so much thereof as, from time to time, exceeds the amount of the call then made upon the shares in respect of which such advance is made, the company may pay interest at such rate, not exceeding eight per cent per annum, as may be agreed upon between the shareholders who pay such sum in advance, and the directors.

R. S. 1964, c. 271, s. 156.