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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 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
QUESTION1 Compare and contrast the Securities Act with the Insurance Act QUESTION 2 (a) What are the main stages of money laundering? (b) Explain the legal framework
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