Aoa clause what is it meaning

pooja dedhia (Querist) 14 October 2012 This query is : Resolved
Subject to the terms of allotment, the directors may make arrangements on the issue of shares for a difference between the holders in the amounts and times of payment of calls on their shares. "

what exactly this clause of AOA suggest ?
i sit purely state about director shares?

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J K Agrawal (Expert) 15 October 2012
This clause simply means that the other share holders are bound to pay off the call money on share as it is due and required.The Share holder is to pay entire call money to validate his share.

In practice the directors have bulk quantity of shares. So IN AOA it is safe to mention this provision that the directors may be relaxed as to terms of amount and time of payment in case of call money.

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