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 was the state responsibility, Normal 0 false false fal...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Capacity - sales of goods, Capacity - Sales of goods Through S.4 (1) p...

Capacity - Sales of goods Through S.4 (1) provides such capacity to buy and to sell is governed through the natural law concerning capacity for contract. Although where necess

Which treaty established by the united nations, Which treaty established by...

Which treaty established by the United Nations The UN Charter is a treaty established by the United Nations. There are three types of treaties: law  making treaty; codifying tr

Determine the term - games nations play, Games nations play Game analog...

Games nations play Game analogy can be used to get the idea because the principal players, states reject any higher authority. Each state, take any player in a competitive game

Determine the concept of credibility, Determine the concept of credibility ...

Determine the concept of credibility Let us make it clear that credibility of a policy and that of a policy maker are two different things. Institutional constraints may make a

Ratification - law of agency and partnership, Ratification - Law of Age...

Ratification - Law of Agency and Partnership However this is the adoption or confirmation through a person of a contract previously entered in through another.  Well

Explain unhcr, Explain UNHCR UNHCR provides protection and assistance n...

Explain UNHCR UNHCR provides protection and assistance not only to refugees, but also to other categories of displaced or needy people. These include asylum seekers, refugees w

What do you understand by collective bargaining, QUESTION 1 One of the ...

QUESTION 1 One of the main ingredients of a system of collective bargaining is the right to join and participate in the activities of a trade union. What is the extent of this

Advise sammy on the following issues, I. Sammy has been under continuous...

I. Sammy has been under continuous employment with World Entertainment Ltd for 5 years. Last Friday Sammy was called to the Director's Office and verbally informed that h

Self-confidence-entrepreneurship development, Self-Confidence: Entrepreneu...

Self-Confidence: Entrepreneurs are self-confident and tackle problems immediately with confidence and are persistent in the pursuit of their objectives. Most are at their best in

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