(1) Each provision of this section applies save to the extent that the company's constitution provides otherwise.
(2) A company shall have a first and paramount lien on every share (not being a fully paid share) for all moneys (whether immediately payable or not) called, or payable at a fixed time, in respect of that share.
(3) The directors of a company may at any time declare any share in the company to be wholly or in part exempt from subsection (2).
(4) A company's lien on a share shall extend to all dividends payable on it.
(5) A company may sell, in such manner as the directors of the company think fit, any shares on which the company has a lien, but no sale shall be made unless -
(a) a sum in respect of which the lien exists is immediately payable; and
(b) the following conditions are satisfied.
(6) Those conditions are -
(a) a notice in writing, stating and demanding payment of such part of the amount in respect of which the lien exists as is immediately payable, has been given
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