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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 60 

If old shares not at a premium, new to be issued as company think fit.

60. If at the time of such augmentation of capital taking place the existing
shares be not at a premium, then such new shares may be of such amount, and
may be issued in such manner and on such terms, as the company shall think
fit.

And with respect to the consolidation of the shares into stock:

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© 1845 Crown Copyright

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