Company Law an der University Of Lusaka | Karteikarten & Zusammenfassungen

Lernmaterialien für company law an der University of Lusaka

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Characteristics of a company
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-perpetual succession
-separate legal personality
-limited liability
-transferable shares
-registered with registrar of companies
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Who holds class meetings
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Usually held by shareholders who hold shares with identical rights
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Extra ordinary resolution
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Usually passed in extra ordinary meetings requiring 75% majority vote
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What is par value
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This is the value of a single share
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What is alteration of shareholder rights
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This is a resolution passed to amend the articles so as to affect rights attached to a group of shareholders
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Green haul v arden's cinemas
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Dilution of rights which is as a consequence of a decision made with regards to rights in a different class of shares does not amount to variation
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Exceptions to the rule in foss v harbottle derivative actions
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-Where act complained of us ultra vires especially where those in control are involved in the ultra vires act
- where breach is in relation to procedural requirement as to the required majority for a resolution to pass
- where rights of a member are being abrogated

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Ordinary resolution
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Resolution requiring simple majority usually passed in AGMs
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New Westminster bank v I.R.C
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A share is only allotted when the company and shareholder are contractual bound and is only issued when shareholder is registered as a member
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What is a class
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This is a group of shares having identical rights
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What is variation of class rights
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Situation where articles are emended to the extent that rights attached to a certain class of shares are abrogated, diminished or diluted section 143
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Shaw v shaw
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Where articles of association give powers to director, shareholders cannot override that. Shareholders cannot exercise powers of directors just like directors cannot exercise powers of shareholders
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Beispielhafte Karteikarten für deinen company law Kurs an der University of Lusaka - von Kommilitonen auf StudySmarter erstellt!

Q:
Characteristics of a company
A:
-perpetual succession
-separate legal personality
-limited liability
-transferable shares
-registered with registrar of companies
Q:
Who holds class meetings
A:
Usually held by shareholders who hold shares with identical rights
Q:
Extra ordinary resolution
A:
Usually passed in extra ordinary meetings requiring 75% majority vote
Q:
What is par value
A:
This is the value of a single share
Q:
What is alteration of shareholder rights
A:
This is a resolution passed to amend the articles so as to affect rights attached to a group of shareholders
Mehr Karteikarten anzeigen
Q:
Green haul v arden's cinemas
A:
Dilution of rights which is as a consequence of a decision made with regards to rights in a different class of shares does not amount to variation
Q:
Exceptions to the rule in foss v harbottle derivative actions
A:
-Where act complained of us ultra vires especially where those in control are involved in the ultra vires act
- where breach is in relation to procedural requirement as to the required majority for a resolution to pass
- where rights of a member are being abrogated

Q:
Ordinary resolution
A:
Resolution requiring simple majority usually passed in AGMs
Q:
New Westminster bank v I.R.C
A:
A share is only allotted when the company and shareholder are contractual bound and is only issued when shareholder is registered as a member
Q:
What is a class
A:
This is a group of shares having identical rights
Q:
What is variation of class rights
A:
Situation where articles are emended to the extent that rights attached to a certain class of shares are abrogated, diminished or diluted section 143
Q:
Shaw v shaw
A:
Where articles of association give powers to director, shareholders cannot override that. Shareholders cannot exercise powers of directors just like directors cannot exercise powers of shareholders
company law

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