(1) A limited company having a share capital may—
(a) sub-divide its shares, or any of them, into shares of a smaller nominal amount than its existing shares, or
(b) consolidate and divide all or any of its share capital into shares of a larger nominal amount than its existing shares.
(2) In any sub-division, consolidation or division of shares under this section, the proportion between the amount paid and the amount (if any) unpaid on each resulting share must be the same as it was in the case of the
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