6. Amendment of section 52 of the principal enactment

Section 52 of the principal enactment is hereby amended by the repeal of subsection (3) thereof, and the substitution therefor, of the following: -

“(3) Upon receipt of the consideration, the company shall make an allotment of the shares within twenty working days of the receipt of such consideration:

Provided however, that the period of time specifi ed in this subsection shall not apply in respect of the issuance of shares which are fully paid up from the reserves of the company to all shareholders of the same class in proportion to the number of shares held by each shareholder.”.