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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.
Business Names: If a company has a place of business in Kenya and carries on business under a business name which does not consist of its corporate
UNWRITTEN SOURCES OF ENGLAND LAW: However common law may be illustrated as that branch of the law of England that was developed through the English courts on the basis of the
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 (
Remedies of the Ultra Vires Lender: In Sinclair v Brougham (26) the House of Lords explained that no action or suit lies at law or in equity to recove
QUESTION 1 The Bank of Mauritius has got various objects. It has therefore got various functions and powers in order to achieve the attainment of its objects. Discuss QUEST
Q. Show the Number of phoenix operators ? A key challenge in quantifying phoenix activity is estimating the number of companies engaging in the activity. In 2001/02, 1.6% of co
Void Contracts - Law of Contract However these are contracts which the law treats as non-existent. Thus as a general rule illegal contract is only void although not certain r
Dishonour by Non-Acceptance The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said
Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,
There are certain legislations passed regarding state succession. For example, The continuance of legal Proceedings Act 1950; The Pakistan Currency Act 1950; The Pakistan
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