Section 45

Where an IBC has purported to issue or allot shares and the issue or allotment of those shares was invalid by reason of any provision of this Order or of the Memorandum or Articles of the company or otherwise or the terms of issue or allotment were inconsistent with or unauthorised by any such provision the Registrar may, upon application lodged with him by the company or by a holder or mortgagee of any of those shares or by a creditor of the company and upon being satisfied that in all the circumstances it is just and equitable so to do, make an order validating the issue or allotment of those shares or confirming the terms of issue or allotment thereof or both subject to such conditions, if any, as it may impose and upon such order being made and a copy thereof being lodged by the company or by such holder, mortgagee or creditor with the Registrar those shares shall be deemed to have been validly issued or allotted upon the terms of issue or allotment thereof as varied by the conditions, if any, imposed by the Registrar.

Share register.