52. (1) Before issuing any shares, the board shall —
(a) decide the consideration for which the shares
will be issued; and
(b) resolve that in its opinion that consideration is fair and reasonable to the company and to all existing shareholders.
(2) The consideration for which a share is issued may take any form, including cash, promissory notes, future services, property of any kind or other securities of the company.
(3) Upon receipt of the consideration, the company shall within a period of twenty days, make an allotment of the shares.
COMPANIES ACT No . 07 OF 2007