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!
Reduction of Capital:
4.1 The general rule is that it is illegal for a company to reduce its capital. This is so because such a reduction would be tantamount to reducing the security available to the company's creditors: Trevor v Whitworth (48). However, S.68 (1) authorizes a company to reduce its capital if:
a) The company's articles authorizes it to do so. If the articles do not confer the authority they can be amended by the inclusion therein of the requisite authority.
b) The company passes a special resolution to that effect. The resolution is defined by S.68 (2) as "a resolution for reducing share capital".
c) The court confirms the proposed reduction. The court's confirmation is required in order to protect the interests of the company's creditors, minority members and the general public.
Golden rule: Conversely the so-called 'golden' rule will be utilized through the court in order to avoid arriving on an absurd decision under the literal rule of construction.
Perpetual Succession: According to the Concise Oxford Dictionary, "perpetual" means, inter alia, "applicable, valid, for ever or for indefinite time " wh
Direct Deliveries Limited (DDL). which is a company that specialises in selling a variety of goods to small independent retailers has grown quickly in the last three years.
Q. Increasing the risk rating of building and construction? Stakeholders indicated that there is a significant risk of phoenix activity in the building and construction industr
PROXIES - meetings and resolutions: By S.136(1), any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint one more person (
There are certain legislations passed regarding state succession. For example, The continuance of legal Proceedings Act 1950; The Pakistan Currency Act 1950; The Pakistan
Select a specific industry or corporation and analyse the factors that determine a competitive or anticompetitive outcome; - Factors such as profit motives interacting with the
Principle of floating charges: The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtai
What are the advantages of doctrine of judicial precedent? Advantages of doctrine of judicial precedent: a. Makes it more clearly in terms of chances of winning case should
Doctrine of "Constructive Notice": The doctrine of "constructive notice" is a rule of company law to the effect that a person transacting business with a company is taken to
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