Section 4Share capital and shareholders

s. 4

4. Share capital and shareholders (1) The authorised capital of the Corporation shall, in the first instance, be one crore of taka, divided into ten lakh fully paid up shares of Tk 10 each. These shares may be issued and allotted by the Corporation from time to time with the previous sanction of the Government. (2) The authorised capital may, with the previous approval of the Government, be increased from time to time by the Corporation. (3) The Government shall be a shareholder of the Corporation and shall subscribe to and hold not less than fifty-one per centum of the shares issued by the Corporation at any time; the remaining shares shall be reserved for public subscription.