...and beyond the Unlawful powers of any company to apply any of its shares or capital- Payments'money, either directly or indirectly, in payment of any commission, discount, or allowance to any person in con^ideration of his subscribing or agreeing to subscribe, whether absolutely or conditionally, for...

...offer of shares to the public for subscription, it shall be lawful for a company to pay a commission to any person in consideration of his subscribing...whether absolutely or conditionally, for any shares in the company, or procuring or agreeing to procure subscriptions, whether absolute or conditional,...

...offer of shares to the public for subscription, it shall be lawful for a company to pay a commission to any person in consideration of his subscribing...whether absolutely or conditionally, for any shares in the company, or procuring, or agreeing to procure, subscriptions, whether absolute or conditional,...

...to be paid does not exceed the amount or rate so authorised. " Save as aforesaid " no company is to apply any of its shares or capital money either directly or indirectly in payment of any commission or allowance to any subscriber for shares. Prospectus. — The term " prospectus " means any prospectus,...

...the payment by a company of a " commission " of any amount " to any person " in consideration either of his subscribing or agreeing to subscribe, whether absolutely or conditionally for shares himself, or of his procuring or agreeing to procure such subscriptions from other persons, provided...

...payment in cash. Subsection 2, which provides that " Save as aforesaid (ie as provided by subsection 1) " no company shall apply any of its shares or capital money either direjtl v or indirectly in payment of any commission, etc.," appears to imply, that the preceding subsection...

...paid or agreed to be paid does not exceed the amount or rato so authorised. (2.) Save as aforesaid no company shall apply any of its shares or capital...subscribe, whether absolutely or conditionally, for any (q) As to recovery of penalties, see (u) See the definition in § 30, and as Сошр. Act, 1862, §...

...exceed that amount or rate(s). Except in these cases and to this extent the Act forbids any company to apply any of its shares or capital money either directly...any commission, discount, or allowance to any person for subscribing or procuring [subscriptions for its shares, whether the shares or money be applied...

...agreeing to apply any of its shares or capital money directly or indirectly in the payment of a commission or allowance to any person in consideration of his subscribing or agreeing to subscribe for all or any part of an issue of 80,000 shares of £i each of the defendant company then being offered...

...section. The controversy really centred in the word ' indirectly ' in s. 8 (ii). ' Save as aforesaid no company shall apply any of its shares or capital...consideration of his subscribing or agreeing to subscribe either absolutely or conditionally for any shares in the company :' those are the words. What the company...