Commonwealth Numbered Acts

COMPANIES ACT 1981 No. 89 of 1981 - SECT 484

484. (1) Notwithstanding anything in this Division, if a share belonging to a
person has been forfeited, he may, at any time up to or on the day immediately
before the day upon which it is intended to sell the share, redeem the share
by payment to the company of-

   (a)  all calls due on the share; and

   (b)  if the company so requires-

        (i)    a portion, calculated on a pro rata basis, of all expenses
               incurred by the company in respect of the forfeiture; and

        (ii)   a portion, calculated on a pro rata basis, of all costs and
               expenses of any proceeding that has been taken in respect of
               the forfeiture.

(2) Upon such a payment, the person is entitled to the share as if the
forfeiture had not been incurred.