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RESERVE CAPITAL:
The reserve capital is defined by S.62 of the Act as the portion of the issued but uncalled capital of a limited company which the company's members, by special resolution, have resolved that the company shall not call up unless and until it is in liquidation. It is to be called up only for purposes of the liquidation. As soon as the resolution is passed, the capital is, as it were, "put on reserve". The directors' power under the articles to make calls on shares will not be exercisable in respect of that capital, unless the company is being wound up. It is referred to in the marginal note to S.62 as "the reserve liability" of a limited company.
Shares Issued At A Premium: A company may at times issue its shares at a price above their nominal value, i.e at a premium. This may be necessitated by the fact that the compa
steeple analysis about setting up a buisiness
Group Accounts: Section 150 requires a company which has subsidiaries to lay before the company in general meeting accounts or statements dealing with the state of affairs an
Contents of Group Accounts: By s.152(1), the group accounts laid before a company shall give a true and fair view of the state of affairs and profit or loss of the company and
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. what’s the Kantian case for condemning Clone CD for their project?
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