# Authorised Capital and Called-Up Capital
## 1. Authorised Capital (Nominal/Registered Capital)
- It is the maximum amount of share capital that a company is authorised to issue.
- It is specified in the Memorandum of Association (MOA) - Capital Clause.
- A company cannot issue shares beyond its authorised capital without first altering it.
## 2. Called-Up Capital
- It is the part of the subscribed share capital that the company has called for payment from shareholders.
- It represents the amount that the company has actually demanded from shareholders out of the issued/subscribed capital.
## Hierarchy of Share Capital
```
Authorised Capital
└── Issued Capital
└── Subscribed Capital
└── Called-Up Capital
└── Paid-Up Capital
```
## Key Definitions Comparison
| Term | Meaning |
|---|---|
| Authorised Capital | Maximum capital company can issue (stated in MOA) |
| Issued Capital | Capital offered to public/shareholders |
| Subscribed Capital | Portion of issued capital actually subscribed |
| Called-Up Capital | Portion of subscribed capital called for payment |
| Paid-Up Capital | Portion of called-up capital actually received |
| Uncalled Capital | Subscribed capital not yet called |