28Calls paid during suspension

28 Calls paid during suspension

(1) A licensee shall not, while the licence is suspended: (a) issue any shares; (b) call up any share capital; or (c) accept from a member of the licensee the whole or a part of the amount remaining unpaid on any shares, whether or not that amount has been called up, unless that amount was called up, and the time fixed for payment of the call occurred, before the suspension. (2) Where: (a) a licence is suspended; (b) a call for payment of the whole or a part of the amount remaining unpaid on any shares forming part of the approved capital of the licensee was made before the suspension and the time fixed for payment of the call occurs during the period of the suspension; and (c) before the licence was suspended the licensee had received payment of the call from any member of the licensee; the licensee shall forthwith after the licence is suspended repay the amount of the payment to that member.