Shares in a limited company having a share capital must each have a fixed nominal value.
An allotment of a share that does not have a fixed nominal value is void.
If a company purports to allot shares in contravention of this section, an offence is committed by every officer of the company who is in default.
A person guilty of an offence under this section is liable—
on conviction on indictment, to a fine;
on summary conviction, to a fine not exceeding the statutory maximum.