after the first or such less sum écon.

[Yuri61]

Пожалуйста, помогите перевести: after the first or such less sum

Выражение встречается в следующем контексте:Every person whose name is entered as a member in the register of members shall be entitled without payment to receive within two months after allotment or lodgment of transfer (or within such other period as the conditions of issue shall provide) one certificate for all his shares or several certificates each for one or more of his shares upon payment of 20 cent for every certificate after the first or such less sum as the directors shall from time to time determine. Every certificate shall be under the seal and shall specify the shares to which it relates and the amount paid up thereon.

Заранее спасибо

[Анатолий Д]

of 20 cent [for every certificate after the first] or such less sum as

[Irisha]

имхо, за каждый второй/последующий сертификат или меньшую сумму...