| Commentary

126 Shares and stock

| Commentary

126 Shares and stock

Shares in a limited company having a share capital must each have a fixed nominal value and consequently any allotment of a share that does not have a fixed nominal value is void1. Shares in a limited company having a share capital may be denominated in any currency, and different classes of shares may be denominated in different currencies2.

References to a ‘share’ includes stock (except where a distinction between share and stock is express or implied) and accordingly, references to a number of shares include an amount of stock3. Under the 2006 Act it is no

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