Section 50:
Company to accept unpaid share capital, although not called up.
(1) A company may, if so
authorised by its articles, accept from any member, the whole or a part of the amount remaining unpaid on
any shares held by him, even if no part of that amount has been called up.
(2) A member of the company limited by shares shall not be entitled to any voting rights in respect of
the amount paid by him under sub-section (1) until that amount has been called up.