Companies Act (Cap. 386), article 112

112. (1) Any share in a company may be forfeited from any shareholder in favour of the company and any shareholder may COMP ANIES [CAP. 386. 69 surrender any or all of his shar es in a company in favour of th at company if the shareholder fails to pay any call or instalment of a call on the day appointed for payment thereof and as long as provision to that effect is contained in the memorandum or articles of the company. (2) The provisions of article 109 shall apply to a forfeiture or surrender of shares until such time as the company disposes of or otherwise cancels them. Conditions for payment of commissions, discounts, etc. Amended by: IV . 2003.58