(1) This section applies where shares in a limited company—
(a) are taken by a subscriber to the memorandum as nominee of the company,
(b) are issued to a nominee of the company, or
(c) are acquired by a nominee of the company, partly paid up, from a third person.
(2) If the nominee, having been called on to pay any amount for the purposes of paying up, or paying any premium on, the shares, fails to pay that amount within 21 days from being called on to do so, then—
(a) in the case of shares that he agreed
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