‹ 517. When Shares Are Allotted Chapter 3 Allotment Of Equity Securities: Existing Shareholders’ Right Of Pre-Emption › 518. Provisions About Allotment Not Applicable To Shares Taken On Formation The provisions of this Chapter have no application in relation to the taking of shares by the initial shareholders on the formation of the company. ‹ 517. When Shares Are Allotted Chapter 3 Allotment Of Equity Securities: Existing Shareholders’ Right Of Pre-Emption ›