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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.
Fraudulent Trading: Section 323 provides that if, in the course of the winding up of a company, it appears that any business of the company has been carried on with intent to
ALLOTMENT OF SHARES: An allotment, legally, is the company's acceptance of an offer to buy its shares. Thus we can say it is governed by the following rules of the common law
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State Article 29 of international law Article 29 states that a member of a diplomatic mission enjoys immunity from arrest or prosecution.
When operating a business, an owner has to make numerous decisions on a daily basis. In some cases, a decision may increase profits, but the owner is uncomfortable making such a de
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 (
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