Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 188

188. (1) A company, if so authorised by its articles, may:

   (a)  make arrangements on the issue of shares for varying the amounts and
        times of payment of calls as between shareholders;

   (b)  accept from a member the whole or a part of the amount remaining
        unpaid on any shares although no part of that amount has been called
        up; and

   (c)  unless it is a no liability company-pay dividends in proportion to the
        amount paid up on each share where a larger amount is paid up on some
        shares than on others.

(2) A limited company may, by special resolution, determine that any portion
of its share capital that has not been already called up is not capable of
being called up except in the event, and for the purposes, of the company
being wound up, and thereupon that portion of the company's share capital is
not capable of being called up except in the event, and for the purposes, of
the company being wound up, but no such resolution prejudices any rights
acquired by a person before the passing of the resolution.