(1) Every Shareholding Bank shall be liable to pay to the Commission the sum of five thousand pounds (in this Act called its capital liability) at the times and in the manner following, that is to say:
(a) each of the first Shareholding Banks shall, when applying for admission to be one of the first Shareholding Banks, pay the sum of one thousand pounds to the Minister in trust for the Commission and shall pay the residue of its capital liability to the Commission as and when required under this Act so to do by the Commission, and
(b) a Bank admitted to be a Shareholding Bank after the establishment of the Commission shall immediately upon such admission pay to the Commission a sum equal to the amount then already paid by each of the other Shareholding Banks on account of their respective capital liabilities and shall pay the residue of its capital liability as and when required under this Act so to do by the Commission.
(2) All sums paid by the first Shareholding Banks on account