COMPANIES ACT - 1963 (ACT 179)

    Section - 102 - Company's Lien on Shares

    (1) A company may, by its Regulations, provide that it shall have a lien on any of its issued shares on which there is any unpaid liability for all moneys, whether presently payable or not, called or payable at a fixed time in respect of those shares, and such lien shall be an effective charge on such shares and any dividends payable thereon enforceable in manner provided by the Regulations.

    (2) Notwithstanding any provision in the Regulations the company's lien shall not extend to shares on which there is no unpaid liability or to any sums due from the shareholder except in respect of the unpaid liability on the shares.