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Page 60

CHAPTER 7
COMMISSIONS AND DISCOUNTS

2. The amount of commission to be disclosed in any prospectus
or statement in lieu of prospectus. (8)
BROKERAGE
Brokerage differs from underwriting commission in that it is a payment made to a person for placing shares without involving him in any risk of having to take the shares. Authority to pay brokerage must be contained in the articles, but need not be given in the memorandum. Nothing in s. 53 is to affect the power of any company to pay such brokerage as was previously lawful. It had previously been held in Metropolitan Coal Consumers' Assn. v. Scrimgeour (9) that ordinary brokerage of a reasonable amount payable in the ordinary course of business was legal.
A payment is only brokerage if it is paid to " stockbrokers, bankers and the like, who exhibit prospectuses and send them to their customers, and by whose mediation the customers are induced to subscribe." (10) The persons to whom it is paid must be one who, in some way, carries on the business of a broker. A payment, therefore, to a lady of a percentage on the amount of capital which she induced third parties to subscribe for shares in a company-such a transaction being an isolated one, and not in the ordinary course of the lady's business-was held not to be brokerage. (11)
The amount of brokerage payable must be disclosed in any prospectus or statement in lieu of prospectus. (8)
Table A, art. 6, authorises the payment of " such brokerage as may be lawful."

8 scheds. IV and V.
9[1895] 2 Q. B. 604 (in this case the brokerage was 2 1/2 per cent.).
10 Per Bailhaehe, J., in Andreae v. Zinc Mines of Great Britain, [1918] 2 K. B. 454 11 Andreae v. Zinc Mines of Great Britain, supra.

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where is HTML where is HEAD where is TITLE 2. what is amount of commission to be disclosed in any prospectus or statement in lieu of prospectus. (8) BROKERAGE Brokerage differs from underwriting commission in that it is a payment made to a person for placing shares without involving him in any risk of having to take what is shares. Authority to pay brokerage must be contained in what is articles, but need not be given in what is memorandum. Nothing in s. 53 is to affect what is power of any company to pay such brokerage as was previously lawful. It had previously been held in Metropolitan Coal Consumers' Assn. v. Scrimgeour (9) that ordinary brokerage of a reasonable amount payable in what is ordinary course of business was legal. A payment is only brokerage if it is paid to " stockbrokers, bankers and what is like, who exhibit prospectuses and send them to their customers, and by whose mediation what is customers are induced to subscribe." (10) what is persons to whom it is paid must be one who, in some way, carries on what is business of a broker. A payment, therefore, to a lady of a percentage on what is amount of capital which she induced third parties to subscribe for shares in a company-such a transaction being an isolated one, and not in what is ordinary course of what is lady's business-was held not to be brokerage. (11) what is amount of brokerage payable must be disclosed in any prospectus or statement in lieu of prospectus. (8) Table A, art. 6, authorises what is payment of " such brokerage as may be lawful." 8 scheds. IV and V. 9[1895] 2 Q. B. 604 (in this case what is brokerage was 2 1/2 per cent.). 10 Per Bailhaehe, J., in Andreae v. Zinc Mines of Great Britain, [1918] 2 K. B. 454 11 Andreae v. Zinc Mines of Great Britain, supra. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 60 where is strong CHAPTER 7 COMMISSIONS AND DISCOUNTS where is p align="justify" 2. what is amount of commission to be disclosed in any prospectus or statement in lieu of prospectus. (8) BROKERAGE Brokerage differs from underwriting commission in that it is a payment made to a person for placing shares without involving him in any risk of having to take what is shares. Authority to pay brokerage must be contained in what is articles, but need not be given in what is memorandum. Nothing in s. 53 is to affect what is power of any company to pay such brokerage as was previously lawful. It had previously been held in Metropolitan Coal Consumers' Assn. v. Scrimgeour (9) that ordinary brokerage of a reasonable amount payable in what is ordinary course of business was legal. A payment is only brokerage if it is paid to " stockbrokers, bankers and what is like, who exhibit prospectuses and send them to their customers, and by whose mediation what is customers are induced to subscribe." (10) what is persons to whom it is paid must be one who, in some way, carries on what is business of a broker. A payment, therefore, to a lady of a percentage on what is amount of capital which she induced third parties to subscribe for shares in a company-such a transaction being an isolated one, and not in what is ordinary course of what is lady's business-was held not to be brokerage. (11) what is amount of brokerage payable must be disclosed in any prospectus or statement in lieu of prospectus. (8) Table A, art. 6, authorises what is payment of " such brokerage as may be lawful." 8 scheds. IV and V. 9[1895] 2 Q. B. 604 (in this case what is brokerage was 2 1/2 per cent.). 10 Per Bailhaehe, J., in Andreae v. Zinc Mines of Great Britain, [1918] 2 K. B. 454 11 Andreae v. Zinc Mines of Great Britain, supra. where is Server.Execute("_SiteMap.asp") %

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