Section 582 | General rule as to means of payment

(1)Shares allotted by a company, and any premium on them, may be paid up in money or money's worth (including goodwill and know-how).

(2)This section does not prevent a company—

(a)from allotting bonus shares to its members, or

(b)from paying up, with sums available for the purpose, any amounts for the time being unpaid on any of its shares (whether on account of the nominal value of the shares or by way of premium).

(3)This section has effect subject to the following provisions of this Chapter (additional rules for public companies).