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Function of the Court:
In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:
"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.
Explain International Atomic Energy Agency The NPT also creates rights and obligations on the members of NPT to comply with the provisions of the treaty and to ensu
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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
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Registered Companies: A registered company is formed by registration under the Companies Act. It is this type of company that people usually have in mind when they talk of "a
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