Section 145 CAMA 2020
Section 145 Companies and Allied Matters Act is about Issue of shares at a premium. It is under Issue Of Shares of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act.
Issue of shares at a premium
(1) Shares of a company may be issued at a premium.
(2) Where a company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount or value of the premium on those shares shall be transferred to, “the share premium account”.
(3) The provisions of this Act relating to the reduction of the share capital of a company shall, except as provided in this section, apply as if the share premium account were paid-up share capital of the company.
(4) Notwithstanding anything to the contrary in subsection (2), the share premium account may be applied by the company in—
(a) paying up unissued shares of the company to be issued to members of the company as fully-paid bonus shares ;
(b) writing off the preliminary expense of a newly incorporated company ;
(c) writing off the expenses of, or the commission paid on any issue of shares of the company ; or
(d) providing for the premium payable on redemption of any redeemable share of the company