Section 108
Validation of shares improperly issued
ActIn forceProvision 108 of 768
Section 108
(2)
The Court may make the order under subsection (1) if a company has purported to issue or allot shares and the creation, issue or allotment of the shares is invalid due to—
(a)
any provision in this Act or any other written law;
(b)
the constitution of the company or otherwise; or
(c)
the terms of issue or allotment were inconsistent with or unauthorized by any such provision.
130
(3)
The shares shall be deemed to have been validly issued or allotted on the terms of the issue or allotment of the shares upon an order of the Court being lodged with the Registrar.