Company Law Reform Bill [HL]

moved Amendment No. 5: Leave out Clause 11 and insert the following new Clause— "STATEMENT OF CAPITAL AND INITIAL SHAREHOLDINGS (1) The statement of capital and initial shareholdings required to be delivered in the case of a company that is to have a share capital must comply with this section. (2) It must state— (a) the total number of shares of the company to be taken on formation by the subscribers to the memorandum of association, (b) the aggregate nominal value of those shares, (c) for each class of shares— (i) prescribed particulars of the rights attached to the shares, (ii) the total number of shares of that class, and (iii) the aggregate nominal value of shares of that class, and (d) the amount to be paid up and the amount (if any) to be unpaid on each share (whether on account of the nominal value of the share or by way of premium). (3) It must contain such information as may be prescribed for the purpose of identifying the subscribers to the memorandum of association. (4) It must state, with respect to each subscriber to the memorandum— (a) the number, nominal value (of each share) and class of shares to be taken by him on formation, and (b) the amount to be paid up and the amount (if any) to be unpaid on each share (whether on account of the nominal value of the share or by way of premium). (5) Where a subscriber to the memorandum is to take shares of more than one class, the information required under subsection (4)(a) is required for each class." On Question, amendment agreed to. Clause 13 [Statement of proposed officers]: