Protection of general public, Business Law and Ethics

Protection of General Public:

It may happen that a resolution reducing a company's capital was passed in circumstances which indicate that the shareholders had not been properly and correctly informed about the real causes of the reduction. In such a case, it is desirable that the general public, as potential members of the company, should be told the truth about the reduction. Section 70 (2) (b) empowers the court where appropriate, to make an order requiring the company to publish, as the court directs, the reason for reduction or such other information in regard thereto as the court may think expedient with a view to giving proper information to the public and whether the court thinks fit, the causes which led to the reduction.

The court order confirming the reduction and the relevant minute as approved by the court, must be delivered to the registrar for registration. S71 (2) provides that, on the registration of the order and minute and not earlier than the resolution for reducing share capital as confirmed by the order so registered shall take effect.

Posted Date: 1/12/2013 4:30:41 AM | Location : United States







Related Discussions:- Protection of general public, Assignment Help, Ask Question on Protection of general public, Get Answer, Expert's Help, Protection of general public Discussions

Write discussion on Protection of general public
Your posts are moderated
Related Questions
what are the business organisation of objecetive

Contract for Work and Materials In Robinson v Graves a dispute arose over an agreement below such an artist had promised to make a portrait about 250 guineas. So query had to

Determine in detail about the credibility factor Let us consider, 'credibility' factor. The law, institutions and other created authorities lead to circumstances that can assur

Possessory Lien Possessory Lien right of a party in possession about anothers goods to retain like the m as security about an obligation owned as in the owner.  Therefore the

Discuss the Role of agend setting in policy process In policy process, agenda setting plays a vital role. It helps determine what policies are chosen. When there are many compe

Ratified - pre-incorporation contract: If the agreement is a written one and it shows that the proposed company was the contracting party the promoters will not be allowed to

1. Joe is walking down the street and Sue comes up behind Joe, aims a gun at him, but stops just before shooting. Joe did not know Sue was coming up behind him.

Domicile of Dependence Moreover this is the domicile a person acquires by virtue of legal dependency. Hence it is determined through the domicile of the other person. Howev

State succession concerns international organizations Issue regarding state succession concerns international organizations. There are more than 30,000 treaties entered into be

A is large property developer who is listed on the Kuala Lumpur Stock Exchange. B is a building contractor. A employed B in 2008 to build a large office complex comprising 3 towers