legal provision for forfeiture of shares
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The power to forfeit shares must be expressly given in Articles of Association of the Company. 2. A notice must be sent to shareholder, giving him at least 14 days time to pay the amount due. It must also state that in case of failure, the shares will be forfeited.
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The power to forfeit shares must be expressly given in Articles of Association of the Company. 2. A notice must be sent to shareholder, giving him at least 14 days time to pay the amount due. It must also state that in case of failure, the shares will be forfeited.
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