oa De Rebus - Shares without par value - a prospective feature of South African company law
|Article Title||Shares without par value - a prospective feature of South African company law|
|© Publisher:||Law Society of South Africa|
|Affiliations||1 Mercantile Law at the University of South Africa, Pretoria.|
|Publication Date||May 1971|
|Pages||177 - 180|
|Keyword(s)||Shares, South African company law and Without par value|
Commission of Enquiry Some of the most interesting recommendations of the Commission of Enquiry Into the Companies Act deal with the introduction and characteristics of shares without par value. Although for most South Africans shares without par value will be somewhat novel, they have been utilised by corporations in America for over fifty years. It was the state of New York which, in 1912, first provided for the issue of shares without par value. Today all the states of America with the exception of Oklahoma and Nebraska permit and regulate the issue of no-par value shares.
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