* * * In the event of such increase, the Proprietors of the original Stock shall not be bound to subscribe, but shall in the first instance have the option of subscribing for the increased Capital Stock in proportion to the share which each has of the original Capital Stock; and so much of the additional Capital Stock as shall not be subscribed for by the said Proprietors of the original stock, within one year after the passing of the final resolution for the increase, shall be open to the public, and be sold, for the benefit of the said Association, by public sale.
Section 34: Option to original proprietors to subscribe in first instance.
The Bengal Bonded Warehouse Association Act, 1838Central Act · Act 5 of 1838
Where this provision sits
| Act | The Bengal Bonded Warehouse Association Act, 1838 |
|---|---|
| Section | 34 |
| Marginal note | Option to original proprietors to subscribe in first instance. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- omitted, Act 12 of 1891. The words “And it is hereby enacted, that” omitted by Act 12 of 1891, s. 2 and Sch. I.
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