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!
Calls On Contributories:
Every person who is a member of the company at the commencement of winding up and every past member is in principle liable to contribute to the company's assets whatever may be required to enable it to pay its debts in full. Present and past members are therefore called "contributories". This serves to give present and past members the status of contributories with, for example, the right to petition for compulsory winding up. But if the company is limited by shares and its issued shares are fully paid the contributories have not liability to contribute anything in normal circumstances.
A contributory may be liable to contribute in the following circumstances:
(a) if the shares which he holds or previously held are partly paid or if it is found that the rules on consideration have been breached in the allotment of shares as fully paid'
(b) if the company is limited by guarantee;
(c) if the company is unlimited.
As explained below the persons who are members at the time when liquidation commences are primarily liable (when there is any liability). The liability of past members is very restricted.
Exceptions to the rule in Foss v Harbottle: According to Professor Wedderburn, the so-called exceptions are essentially no exceptions at all. They appear to be circumstances
Minimum subscription - Commencement of business: If the minimum subscription was not raised the company can only commence business or exercise borrowing powers if:- a)
Your task is to examine and analyse the article by Shae McCrystal The Fair Work Act 2009 (Cth) and the Right to Strike. (2009) (December) Vol 23 Australian Journal of Labour Law
What is legislation in law? Legislation Legislation is the formalisation of rules and processes by the UK Parliament. This does that by passing acts of parliament or sta
State Article 2 of air and outer space law Article 2 states that for the purposes of this Convention the territory of a state shall be deemed to be the land areas and territori
Differences between Liquidators and receivers: There are also significant differences: (a)a liquidator has numerous statutory powers. A receiver must rely on the powers given
VOIDABLE ALLOTMENTS: An allotment of shares is voidable if it is made in breach of- a) Section 49 (1): by having been made before the minimum subscription was raised o
Issue of additional preference shares: In the Bristol Aeroplane Case it was said of the issue of additional preference shares that: "the existing prefere
Q. CS 652 - Programming problem? Without using the system() function to call any bash commands, write a python program that will implement a simple version of the diff command.
QUESTION 1 Successful Contract Administration requires the preparation of a good contract management plan. Describe the steps undertaken to prepare such a plan? QUESTION 2
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