authorized shares
1.Often, a company sells only a portion of the authorized shares to raise enough capital for its foreseeable needs.
2.Additional Fees: Corporations whose authorized capital exceeds five hundred (500) shares without par value, or with a total par value in excess of US$50000.00, or its equivalent.
3.Upon the issue by the Company of a share without par value ,if an amount is stated in the Memorandum to be authorized capital represented by such shares then each share shall be issued for no less than the appropriate proportion of such amount which shall constitue capital , otherwise the consideration in respect of the share constitutes capital to the extent designated by the directors and the excess constitutes surplus , except that the directors must designate as capital an amount of the consideration that is at least equal to the amount that the share is entitled to as preference , if any , in the assests of the Company upon liquidation of the Company.
4.the maximum number of shares authorized under the the terms of a corporations articles of incorporation.
5.Should the company decide to sell more shares than are authorized, the charter must be amended through a stockholder vote.
6.e.g. The company is allowed to issue a total amount of shares known as the authorized share capital or nominal capital. However, the issued capital may be less than that.
7.（b）If in any case Party A, after having become bound to transfer any Shares and Loans pursuant to the provisions of this Clause X to Party B or a third party, shall fail or refuse to do so, the Company Secretary or any other person appointed by the Board shall be deemed to have been irrevocably authorized by Party A, with full power to execute, complete and deliver, in the name and on behalf of Party A, transfers of the Board may then register the purchaser or its nominee as holder of the Shares and issue to the purchaser or its nominee （as the case may be） a certificate of the same, and thereupon, Party A shall be bound to deliver up the certificates for the Shares, and upon such delivery, shall be entitled to receive the purchase price therefore without interest.
