Resolution for the variation - statutory provisions, Business Law and Ethics

Resolution for the variation - Statutory provisions:

Where any application is made pursuant to this provision, the variation shall not have effect unless and until it is confirmed by the court.

An application under the section must be made by petition within thirty days after the date on which the consent was given or the resolution was passed.  It may be made on behalf of the applicants by such one or more of their number as they may appoint in writing for the purpose.

S. 74(3) provides that on any such application the court, later than hearing the applicant and any other persons that who apply to the court to be heard and appear to the court to be interested in the application, may disallow the variation if it is satisfied, through having all the circumstances of the case, in which the variation would unjustly prejudice the shareholders of the class represented by the applicant.

Posted Date: 1/15/2013 2:48:16 AM | Location : United States







Related Discussions:- Resolution for the variation - statutory provisions, Assignment Help, Ask Question on Resolution for the variation - statutory provisions, Get Answer, Expert's Help, Resolution for the variation - statutory provisions Discussions

Write discussion on Resolution for the variation - statutory provisions
Your posts are moderated
Related Questions
Subrogation - Void Contracts       However in Re National Permanent Benefit Building Society would the court stated that where an infant obtains a loan for necessaries and real

Need for research Design: a. It facilities the smooth sailing of the various research operations thereby making research as efficient as possible yielding maximal inf

Purchase Of Own Shares: Another possible way in which a company's paid-up capital may leave the company other than in the ordinary course of the company's business would be if

Explain the mode of acquisition - occupation The mode of acquisition is occupation. It is a means by which a State can acquire territory which belongs to no other entity. The o

State the term - monetary policy coordination Criticisms have been put forward on proposals for enhanced fiscal and monetary policy coordination. This policy coordination might

Implementation of open method of coordination It is emphasised that OMC might contribute to the dissemination of best practice in the implementation of national development po

QUESTION 1 One of the main ingredients of a system of collective bargaining is the right to join and participate in the activities of a trade union. What is the extent of this

Compulsory liquidation - winding up: There are a number of points of similarity: (a) in a compulsory (but not a voluntary) liquidation the directors have to submit a statemen

Contents of the Notice: The notice convening a meeting must be clear and explicit so that the person receiving it may be in a position to decide whether or not he ought in his

Change of Name: A company's name may be changed voluntarily or compulsorily (a)   Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp