Companies Clauses Consolidation Act, 1845

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Application of capital.

65. And be it enacted, that all the money raised by the company, whether by subscriptions of the shareholders, or by loan or otherwise, shall be applied, firstly, in paying the costs and expences incurred in obtaining the special Act, and all expences incident thereto, and, secondly, in carrying the purposes of the company into execution.

And with respect to the general meetings of the company, and the exercise of the right of voting by the shareholders, be it enacted as follows: