5/18/2011 CO Rewrite (reform proposals) Second Consultation Paper (June 2008) Abolition of par value ·Authorised capital? Acquisition of shares:introduction Difference between issues and allotments of shares ·"Issuing the shares'” Allotted shares Allottee "Allotment .Allottee =subscriber? Contract of allotment >Essential terms >Failure to carry out a contract of allotment Renunciation of allotment Difference between issues and transfers of shares Difference between transfers and transmissions of shares 16 85/18/2011 8 15 CO Rewrite (reform proposals) • Second Consultation Paper (June 2008) • Abolition of par value • Authorised capital? 16 Acquisition of shares: introduction • Difference between issues and allotments of shares  “Issuing the shares”  Allotted shares  Allottee  Allotment  Allottee = subscriber?  Contract of allotment  Essential terms  Failure to carry out a contract of allotment  Renunciation of allotment • Difference between issues and transfers of shares • Difference between transfers and transmissions of shares