Show Summary Details
Company Law

Company Law (6th edn)

Brenda Hannigan
Page of

Printed from Oxford Law Trove. Under the terms of the licence agreement, an individual user may print out a single article for personal use (for details see Privacy Policy and Legal Notice).

date: 04 December 2023

p. 49721. Share capital—capital raising and paymentlocked

p. 49721. Share capital—capital raising and paymentlocked

  • Brenda HanniganBrenda HanniganProfessor of Corporate Law, Law School University of Southampton


This chapter considers the statutory rules governing share capital requirements, especially the rules governing allotment of shares, payment for shares, and capital raising. Share capital rules are predominantly statutory and this chapter looks at the statutory framework on allotment including the authority of the directors to allot shares, the need for rights issues; the ability to accept a non-cash consideration; and the prohibitions on various types of consideration, in the case of public companies. Minimum capital requirements and the need to avoid issuing at a discount are considered. A key issue for public companies is whether to make an offer of their shares to the public or seek to have their shares traded on a public market. The regulatory framework for public offers of shares, essentially requiring a prospectus, is considered.

You do not currently have access to this chapter

Sign in

Please sign in to access the full content.


Access to the full content requires a subscription