- Dedication
- Preface
- Approach of the book
- New to this edition
- Latest news
- Guide to the Online Resource Centre
- List of abbreviations
- Part I The English legal system
- 1. What is law?
- 2. The administration of the law
- 3. Domestic sources of law
- 4. Europe and the English legal system
- Part II The law of contract
- 5. An introduction to the law of contract
- 6. The formation of the contract
- 7. The terms of the contract
- 8. The law of agency
- 9. Unfair terms
- 10. Vitiating factors
- 11. Discharge of the contract
- 12. Remedies for breach of contract
- Part III The law of torts
- 13. An introduction to the law of torts
- 14. The tort of negligence
- 15. Business-related torts
- 16. Vicarious liability
- 17. Tortious defences and remedies
- Part IV Partnership law and company law
- 18. Unincorporated business structures
- 19. Incorporation and bodies corporate
- 20. The constituents of a company
- 21. Shares and capital maintenance
- 22. Directors’ duties
- 23. Members’ remedies
- 24. Corporate rescue, insolvency, and dissolution
- Part V Employment law
- 25. The contract of employment
- 26. Employment rights, and health and safety
- 27. Discrimination law
- 28. The termination of employment
- Appendix 1: Bonus Chapters
- Table of cases
- Table of legislation
- Index
(p. 576) 21. Shares and capital maintenance
- Chapter:
- (p. 576) 21. Shares and capital maintenance
- Author(s):
Lee Roach
- DOI:
- 10.1093/he/9780198748380.003.0021
This chapter examines the nature of shares and the share capital of companies, and the provisions for the maintenance of capital as they apply to companies with a share capital. It begins by defining what a share is before moving on to discuss the classifications of share capital. The process by which shares are created is examined in detail, including an examination of the allotment and issuing of shares, the minimum capital requirement, and the company’s ability to issue different classes of share. The chapter then discusses the capital maintenance regime—a series of rules designed to protect the company’s creditors by preventing capital from being returned to shareholders (including the restructuring of share capital, and the rules relating to distribution of profits).
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- Dedication
- Preface
- Approach of the book
- New to this edition
- Latest news
- Guide to the Online Resource Centre
- List of abbreviations
- Part I The English legal system
- 1. What is law?
- 2. The administration of the law
- 3. Domestic sources of law
- 4. Europe and the English legal system
- Part II The law of contract
- 5. An introduction to the law of contract
- 6. The formation of the contract
- 7. The terms of the contract
- 8. The law of agency
- 9. Unfair terms
- 10. Vitiating factors
- 11. Discharge of the contract
- 12. Remedies for breach of contract
- Part III The law of torts
- 13. An introduction to the law of torts
- 14. The tort of negligence
- 15. Business-related torts
- 16. Vicarious liability
- 17. Tortious defences and remedies
- Part IV Partnership law and company law
- 18. Unincorporated business structures
- 19. Incorporation and bodies corporate
- 20. The constituents of a company
- 21. Shares and capital maintenance
- 22. Directors’ duties
- 23. Members’ remedies
- 24. Corporate rescue, insolvency, and dissolution
- Part V Employment law
- 25. The contract of employment
- 26. Employment rights, and health and safety
- 27. Discrimination law
- 28. The termination of employment
- Appendix 1: Bonus Chapters
- Table of cases
- Table of legislation
- Index