I move amendment No. 25.
In subsection (1), page 54, line 42, to delete " authorising the increase " and substitute " increasing its share capital ".
This is merely a drafting amendment, as members of the Committee will see from the brief circulated.
I move amendment No. 26 :
In subsection (2), to delete all words from " and there shall be forwarded " to the end of the subsection.
This is an amendment to delete what, in fact, is repetition. The words proposed to be deleted are already contained in Section 143 (5) (d). In fact, it is a drafting amendment.
I notice the words " registered capital " are used in line 41. Is the more normal wording not " nominal capital " ?
That is true, but the wording employed all along in this section is as it is there—" registered capital ", the idea being to make it quite clear that the obligation is to notify the Registrar of increases beyond the figure that has already been notified to him.
There is no definition that I can see in this case. In the absence of definition, I suggest that " registered capital " could equally mean capital in the register of the company. If it is meant to be capital notified to the Registrar of Companies, it should be so defined.
How do you mean ? In other words, to be confused with issued capital instead of nominal capital ?
" Register " is defined in this as being the register of the company. " Registrar " is defined as being the Registrar of Companies. I think the phraseology should be turned around to make it clear that it is the Registrar of Companies rather than the register of the company itself which is in mind. It is purely a drafting matter.
We shall consider that, then, on the recommital.
