Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Purchase Of Own Shares:
Another possible way in which a company's paid-up capital may leave the company other than in the ordinary course of the company's business would be if the company purchased its own shares. It was therefore held in Trevor v Whitworth (48) that it is illegal for a limited company to purchase its own shares. Such a purchase, whether permitted, would constitute an indirect reduction of the paid-up capital with no compliance with the statutory provisions relating to reduction of capital. This is the general rule that is applicable in Kenya. This decision was said to be based on the implied provisions of the English Companies Act 1862. The said provisions were incorporated in the English Companies Act 1948 which in turn became our Companies Act (Cap. 486). It may however be criticized for its assumption that whenever a company buys its shares it would do so by utilizing its paid-up capital. It is in fact possible for a company to buy its shares without using its paid-up capital but using the money from a reserve fund which was constituted for that purpose. Such a purchase might in fact be beneficial to the company which could use it as a mechanism for propping up the market value of its shares at a time when there is panic selling by its shareholders which has been precipitated by adverse rumours about the company. The company would later resell the shares in such a way as to prevent high fluctuations in their market prices.
Explain Immunities of international organizations The immunities of international organizations are almost always specified in a treaty between the organizations and the host
A company seeing the prevalence of HIV transmission due to unprotected sexual intercourse in a country and the societal norms preventing the open use of condoms sees an opportunity
UNCTOC gives the right of Confiscation and Seizure to individual states. " 1. States Parties shall adopt, to the greatest extent possible within their domestic legal systems,
Types of Agents - Agency Law Although broadly agents are either special or might be general depending on the scope of authority. Subsequently an agent engaged to carry a task
Ask q‘Super Parrot Food’ Our own unique blend of parrot food containing the best quality ingredients lovingly prepared by us. Tim, the proprietor of ‘Pets on Parade’, a competing
Loans Given for Necessaries - Void Contracts It may happen that an infant asks someone to a loan for buy necessaries like school uniforms or textbooks. Therefore the per
Define the term- international implications of enforcement Agencies cooperate over time, they converge towards common principles that might then serve as the foundation for the
Explain Recognition of States pertains Recognition of States pertains to whether a state exists or not, meaning thereby, the participants of global community should recognize t
State Article 3 of air and outer space law Article 3 refers to the fact that the Convention would be applicable to the civil aircraft only and not to the state aircraft. Also,
Purchase Of Own Shares: Another possible way in which a company's paid-up capital may leave the company other than in the ordinary course of the company's business would be if
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd