Mode of alteration, Business Law and Ethics

Assignment Help:

Mode of Alteration:

 The alteration of capital may be made by -

1) Increasing the company's share capital by new shares of such amount as the resolution prescribes; or

2) Consolidating and dividing all or any of the company's share capital into shares of larger amount than the existing shares; or

3) Converting all or any of the company's paid-up shares into stock, or reconverting the stock into paid-up shares of any denomination; or

4) Subdividing all or any of the shares into shares of smaller amount than is fixed by the memorandum; or

5) Canceling shares which have not been taken or agreed to be taken by any person, and diminish the amount of the capital. This mode of alteration is also known as diminution of capital. Subsection (3) provides that it shall not be deemed to be a reduction of share capital within the meaning of the Act.

3.2 The registrar must be notified of an alteration of capital within thirty days after the passing of the resolution authorizing the alteration. In the event of a failure to do so, the company and every officer of the company who is in default shall be liable to a default fine.


Related Discussions:- Mode of alteration

Appeals - court-martial, Appeals - Court-Martial In fact in Section 11...

Appeals - Court-Martial In fact in Section 115 of the Armed Forces Act including a person who has been convicted through a court-martial to appeal to the High Court either aga

What do you understand by business ethics, QUESTION 1 (1) What do you u...

QUESTION 1 (1) What do you understand by business ethics? (2) How can an ethical climate be improved in an organization? QUESTION 2 Explain the importance of stakeho

Resource journal, For the resource journal, you'll need to assemble: An ...

For the resource journal, you'll need to assemble: An Award and an Agreement plus a minimum of three samples of legislation that have grievance and/or dispute resolution process

What forces the policy maker to obey the law, What forces the policy maker ...

What forces the policy maker to obey the law When law directs a policy maker to carryout policy, what forces the policy maker to obey the law? When there is no restriction from

Treaty on principles governing the activities of states, Treaty on Principl...

Treaty on Principles governing the activities of States The Treaty on Principles governing the activities of States in the Exploration and Use of Outer space, including the mo

Duties of an advocate, Duties of an Advocate First is, Duty to th...

Duties of an Advocate First is, Duty to the Court Whether as an officer of court an advocate is bound to assist in administration of the justice.  Thus he must adv

Transfer or passing of property - sales of goods, Transfer or Passing of Pr...

Transfer or Passing of Property - Sales of Goods Perhaps assuming like the seller has a right to sell the goods, so it like necessary to determine the precise moment the trans

Resolution to wind up voluntarily, Resolution to Wind Up Voluntarily: ...

Resolution to Wind Up Voluntarily:  The type of resolution to be passed varies with the circumstances of the case, as provided in s.271(1): (a) If the articles provide for

The policy process - advocacy coalitions and policy learning, The policy pr...

The policy process - Advocacy coalitions and Policy learning The mobilization of attention is what policy advocacy is primarily about. And the systematic mobilization of attent

Plan the disciplinary interview, Question: You are the manager of a res...

Question: You are the manager of a restaurant and receive a letter from a customer complaining about the quality of service and the rudeness of one member of your staff. You ha

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd