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
Question 1: Write brief notes on the following contractual terms:- (a) How an offer differ from an invitation to treat. (b) The principles governing goods wh

Mode of Reduction: S.68 (1) expressly states that a company may reduce its capital "in any way". There is therefore no statutorily prescribed mode of reduction and the actual

In entrepreneurship development, we have studied various aspects of Entrepreneurship Development, which will help in setting your own workshop. Though all the information has been

Presumed Agency or from Cohabitation Whether a woman who is living with a man is deemed that  be his agent for purposes of acquire necessaries to the family; marriage is not n

Legal Procedures: The court may order the examination in private or public (ie. open court) of an officer of a company in liquidation or of any person known or suspected to ha

QUESTION 1 Evaluate the circumstances under which an employer would be justified in terminating his worker's contract of employment under the Employment Rights Act QUESTION

Determine the example of a relational contract A characteristic macro example of a relational contract with a strong lock-in effect is membership of a currency community. Self-

Group Accounts: Section 150 requires a company which has subsidiaries to lay before the company in general meeting accounts or  statements dealing with the state of affairs an

Partnerships - Unincorporated Associations Conversely Partnership is defined through S.3 (1) of the Partnership Act as "the relation that subsists between persons carrying at

Loans to Directors: Section 191(1) renders unlawful any loan made by a company to a director of the company or its holding company. It is also unlawful for the company to guar