If a company forfeits shares and the company's constitution is silent in relation to reissue of the shares, the company is entitled to keep any balance in the account after reissue, payment of unpaid calls and interest and administrative costs.

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This statement is true according to Section 254 of the Companies Act 2006. If a company forfeits shares and has no provision in its constitution regarding the reissue of these shares, then the company is entitled to keep any balance in the account after the reissue, payment of unpaid calls and interest, and administrative costs.

If a Company Forfeits Shares and the Company's Constitution Is