Section 65 — Differences in calls and payments, etc.

(1)A company if so authorised by its constitution may —

(a)make arrangements on the issue of shares for varying the amounts and times of payment of calls as between shareholders;

(b)accept from any member the whole or a part of the amount remaining unpaid on any shares although no part of that amount has been called up; and

(c)pay dividends in proportion to the amount paid up on each share where a larger amount is paid up on some shares than on others.[36/2014] Reserve liability (2) A limited company may by special resolution determine that any portion of its share capital which has not been already called up is not capable of being called up except in the event and for the purposes of the company being wound up, and thereupon that portion of its share capital is not capable of being called up except in the event and for the purposes of the company being wound up, but no such resolution affects the rights of any person acquired before the passing of the resolution.