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Partly Paid Shares

Overview

It is possible for a company to issue shares which are partly paid-up, and the unpaid portion is the unpaid share capital. Shareholders will be liable to pay the company the portion unpaid on their shares if a ‘call’ is made.

Any changes to the amounts paid must be recorded on your own share register and included in your next company annual return. 

Navigation

From the Main Toolbar, go to Company

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Select the Company from the list

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Select Shareholders

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Step 1. Record the allotment of the partly paid shares

Select Allotments

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Click here for more information on how to record an Allotment.

Under the Share Type field, begin by typing the share type and select mceclip4.png to create a new share type.

Enter an amount in the Amounts Unpaid field. This will indicate that there is an amount outstanding for the shares.

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The share transaction will be listed in the Shareholders screen. Under the Fully Paid column, hover your cursor over the information icon mceclip6.png , the following details will display:

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Step 2. Record a call on shares

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Select Changes to Amounts Paid

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CAS 360 will display the Changes to Amounts Paid screen

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Field

Explanation 

Transaction Date

Input the date of call on shares

Shareholder

CAS 360 will display a list of the company's current shareholders

Beneficial Owner

CAS 360 will automatically prefill this field if there is a beneficial owner.

Share Type

CAS 360 will display a list of the share types the shareholder holds

Number of Shares

Input the number of shares paid

Total Amount of Issued Share Capital

Enter the amount payable for issued share capital in decimals.

Total Amount of Paid Up Share Capital

Enter the amount of paid up share capital in decimals. 
New Total Amount of Paid Up Share Capital

Input the new amount paid. This must be an amount between the original amount paid per share and the total value per share

Meeting Status

Select the meeting status of the member which will display on the Members Minutes

Notes

Input any extra notes in relation to the Changes to Amounts Paid

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Field

Explanation (Transferor & Transferee)

Certificate Type

Select the Certificate Type

Certificate Number

CAS 360 will automatically pre-fill a number based on previous shareholder transactions.

Certificate Location

Enter the location of the Certificate

Unique Numbers

Type a Unique Number to assign to the shares

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Forms Prepared

By selecting Prepare Forms mceclip13.png CAS 360 will display the Document Production screen and automatically select the documents required:

  • Cover Letter
  • Register of Members
  • Members Minutes or Resolution
  • Company Change Summary
  • Share Certificate
  • Notice of EGM
  • Allotment Journal
  • Members Consent to Short Notice
  • Directors Minutes or Resolution
  • Declaration of Trust (if there is a Beneficial Owner attached)
  • Notice of Beneficial Ownership (If there is a Beneficial Owner attached)

Select the mceclip14.png  icon to change any of the document settings. Different options will appear depending on the document type.

 

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