Section - 399 - Right to apply under sections 397 and 398
Right to apply under sections and .399. (1) The following members of a company shall have the right to apply under section or :— (a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one-tenth of the total number of its members, whichever is less, or any member or members holding not less than one-tenth of the issued share capital of the company, provided that the applicant or applicants have paid all calls and other sums due on their shares; (b) in the case of a company not having a share capital, not less than one-fifth of the total number of its members.(2) For the purposes of sub-section (1), where any share or shares are held by two or more persons jointly, they shall be counted only as one member.(3) Where any members of a company are entitled .... To read the full section download the app from Google Play store
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