7. Statement of capital and initial shareholdings

(1) The statement of capital and initial shareholdings required to be delivered in the case of a company that is to have a share capital must comply with this section.
(2) It must state—
(a) the total number of shares of the company to be taken on formation by the initial members,
(b) for each class of shares—
(i) prescribed particulars of the rights attached to the shares, and
(ii) the total number of shares of that class, and
(c) the amount to be paid up and the amount (if any) to be unpaid on each share.
(3) It must contain such information as may be prescribed for the purpose of identifying the initial members.
(4) It must state, with respect to each initial member—
(a) the number and class of shares to be taken by him on formation, and
(b) the amount to be paid up and the amount (if any) to be unpaid on each share.
(5) Where a member is to take shares of more than one class, the information required under subsection (4)(a)is required for each class.