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Common law rules:
The above common law rules have been modified by the following statutory provisions:
VOID ALLOTMENTS
a) S.50 A renders an allotment void if it was made to a body corporate which is not a registered company without the prior written consent of the Treasury. This section was presumably "slotted in" in order to prevent public funds given by the Treasury to parastatal organisations from being invested in bogus companies "owned" by some of the senior personnel in parastatals.
b) S.53 (1) renders an allotment void if it was made before aplying for, or obtaining, stock exchange permission for the company's shares to be dealt in on the stock exchange. This is only applicable in cases where the prospectus had stated that the permission had been, or would be, applied for.
Trade Unions - Unincorporated Associations Therefore these are registered under S.11 of the Trade Unions Act 1952 into the primary object of regulating the relations between e
APPOINTMENT BY DIRECTORS: The company first auditors of may be appointed through the directors at any time before the first annual general meeting, and auditors so appointed s
The aim of this module is to introduce you to the principles of undertaking social investigative and criminological research and evaluation. You will develop a critical awareness o
Types oF Goods - Sales of Goods Further the Act classifies goods into: like; (i) Specific Goods Whether specific goods are "goods" like are acknowledged and agreed on
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F.O.B. Contracts - Import and Export Trade Under an f.o.b. like free on board contract it is the duty of like the seller to put the goods on board a ship to the purpose of the
Class Meetings: "Class meetings" are not provided for by the Act. however, a class meeting may be held pursuant to the provisions of the company articles of association, if a
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CASUAL VACANCIES: By S.159 (6) "The directors may fill any casual vacancy in th office of auditor, so further any there such vacancy maintaining the surviving or continuing au
Fitness for Purpose - Sales of Goods However that goods such are bought for a particular purpose that are reasonably fit about that purpose:(S.16 (a))like Whether this conditi
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