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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 36

Execution against shareholders to the extent of their shares in capital not paid up.

36. If any execution, either at law or in equity, shall have been issued
against the property or effects of the company, and if there cannot be found
sufficient whereon to levy such execution, then such execution may be issued
against any of the shareholders to the extent of their shares respectively in
the capital of the company not then paid up: Provided always, that no such
execution shall issue against any shareholder, except upon an order of the
court in which the action, suit, or other proceeding shall have been brought
or instituted, made upon motion in open court after sufficient notice in
writing to the persons sought to be charged; and upon such motion such court
may order execution to issue accordingly; and for the purpose of ascertaining
the names of the shareholders, and the amount of capital remaining to be paid
upon their respective shares, it shall be lawful for any person entitled to
any such execution, at all reasonable times, to inspect the
register of shareholders without fee.

© 1845 Crown Copyright

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