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

Article 3 - state responsibilty, Article 3 - State Responsibilty Artic...

Article 3 - State Responsibilty Article 3. This article is about the Characterisation of an act of a State as Internationally wrongful. A local law that results into violatio

Proxies - meetings and resolutions, PROXIES - meetings and resolutions: ...

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 (

Negotiable instruments, Negotiable Instruments A negotiable instrument...

Negotiable Instruments A negotiable instrument cannot be described regards precision, although can be explained like a commercial document that represents money. Whether it pa

What is the procedure for setting up a company, Question a) What is a...

Question a) What is a company? b) The Companies Act 2001, there shall be a Registrar of Companies. What are the functions of the Registrar? c) What is the procedure fo

Business ethics, Imagine yourself in a situation of being encouraged to inf...

Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the

Order of application of assets, Order of application of assets: The or...

Order of application of assets: The order of application of assets is therefore as follows: (a) secured creditors who have fixed charges are entitled to be paid out of thei

Tort example - property from injury, A landowner has a duty to protect a p...

A landowner has a duty to protect a person that enters his/her property from injury.  If the person is a guest or licensee, then it is a higher duty of care.  However, the landowne

The advisory council for occupational safety and health, QUESTION 1 Dis...

QUESTION 1 Discuss the functions of the following- (a) The Workfare Programme (b) The Advisory Council for Occupational Safety and Health (c) Health and Safety Officer

Vacation of office - company management, Vacation of Office: In additi...

Vacation of Office: In addition to vacating office under the aforesaid provisions of Article 88 a person may cease to be a director for various reasons like as;-

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