Variation of class rights, Business Law and Ethics

Assignment Help:

Variation of class rights:

It is only necessary to follow the variation of class rights procedure (and a dissenting minority can only apply to the court for cancellation)  if what is proposed amounts to a variation of the class, right of itself.  It is not a variation of class rights:

to issue shares of the same class to allottees who are not already members of the class (unless the defined class rights prohibit this);

WHITE v. BRISTOL AEROPLANE CO.

The company made a bonus issue of new ordinary and preference shares to the existing ordinary shareholders who alone were entitled under the article to participate in bonus issues.  The existing preference shareholders objected that by reducing their proportion of the class of preference shares the bonus issue was a variation of class rights to which they had not consented.


Related Discussions:- Variation of class rights

What are the implied obligations of the employer, Question 1: With the ...

Question 1: With the enactment of the Labour Act 1975, how far has the freedom of the employer to unilaterally terminate contracts of employment been abrogated? Question 2:

BUSL320, How much for a 1000 word report? Graduate level

How much for a 1000 word report? Graduate level

Function of the court, Function of the Court: In Scottish Insurance Co...

Function of the Court: In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated: "But important though its task is to see that the procedure by

Obligations of the employer and the employee, Question 1: Constructive ...

Question 1: Constructive dismissal is inherently different from dismissal in the sense that it is the employee who necessarily takes the initiative in considering the contract

Analyse austins command theory of law, Problem 1: Give a critical descr...

Problem 1: Give a critical description of Hart's concept of law and discuss the failings in such theory. Problem 2: Analyse Austin's command theory of law and discuss h

Legal justification - constructive notice, Legal justification - Constructi...

Legal justification - Constructive notice: The legal justification for this rule is that since the company's public documents in its file at the Companies Registry are availab

Domicile of dependence, Domicile of Dependence Moreover this is the do...

Domicile of Dependence Moreover this is the domicile a person acquires by virtue of legal dependency. Hence it is determined through the domicile of the other person. Howev

Business and social agreements, Business and Social Agreements Busin...

Business and Social Agreements Business Agreements Therefore is a rebuttable presumption that parties intended generate a legally enforceable agreement to example in Cr

Discuss intellectual property rights protect, QUESTION Many governments ...

QUESTION Many governments around the world have sought to address the problems posed by materials on the Internet that are illegal under their offline laws, and those considered

Explain issue of non-state actors, ISSUE OF NON-STATE ACTORS The concep...

ISSUE OF NON-STATE ACTORS The concept of Non-state actor is a recent political development, which has, so far, eluded a concise definition. There are no treaties or conventions

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd