Books > Old Books > Poetry Northwest (1959)


Page 67

CHAPTER 8
MEMBERSHIP OF A COMPANY

permission is refused before three weeks from the closing of the lists, the allotment is void and the money must be returned within eight days. Failure to apply for or obtain permission also renders an allotment under an underwriting contract void. When permission is granted, the money can be taken out of the separate bank account and used in the ordinary way.
Return as to Allotments (s. 52).-Whenever a company makes any allotment of its shares, it must, within a month, register with the Registrar:
1. A return of the allotments, stating the number and nominal amount of the shares, the names, addresses and descriptions of the allottees and the amount paid on each share.
2. In the case of shares allotted otherwise than in cash, the contract constituting the title of the allottee, and a return stating the number and nominal amount of shares allotted, the extent to which they are paid up, and the consideration for allotment.
If such a contract is not in writing, particulars of the contract, setting out the consideration, must be filed.
Compliance with these requirements is enforced by a penalty of £50 a day on every director, manager, secretary or other officer of the company who is knowingly a party to the default. The Court has power to grant relief if the omission to deliver any document within the prescribed time is due to inadvertence.

WHO CAN BE MEMBERS
An Infant may be a member unless forbidden by the articles. An infant, however, can repudiate the shares before or within a reasonable time of his attaining the age of twenty-one; if he does repudiate, he cannot recover the money paid for them if the shares have ever had any value.

Steinberq v. Scala (Leeds), Ltd., [1923] 2 Ch. 452. S., an infant, agreed to take 500 £1 shares in a company, and paid lOs. on each share. She received no dividend on the shares. While still an infant she repudiated the shares, and brought an action (1) to recover the money she had paid, and (2) for a declaration that she was not liable for future calls. Held, (1) as the shares at one time had a market value, S. could not recover money already paid, but (2) S. was not liable for future calls.

travel books:
where is HTML where is HEAD where is TITLE permission is refused before three weeks from what is closing of what is lists, what is allotment is void and what is money must be returned within eight days. Failure to apply for or obtain permission also renders an allotment under an underwriting contract void. When permission is granted, what is money can be taken out of what is separate bank account and used in what is ordinary way. Return as to Allotments (s. 52).-Whenever a company makes any allotment of its shares, it must, within a month, register with what is Registrar: 1. A return of what is allotments, stating what is number and nominal amount of what is shares, what is names, addresses and descriptions of what is allottees and what is amount paid on each share. 2. In what is case of shares allotted otherwise than in cash, what is contract constituting what is title of what is allottee, and a return stating what is number and nominal amount of shares allotted, what is extent to which they are paid up, and what is consideration for allotment. If such a contract is not in writing, particulars of what is contract, setting out what is consideration, must be filed. Compliance with these requirements is enforced by a penalty of £50 a day on every director, manager, secretary or other officer of what is company who is knowingly a party to what is default. what is Court has power to grant relief if what is omission to deliver any document within what is prescribed time is due to inadvertence. WHO CAN BE MEMBERS An Infant may be a member unless forbidden by what is articles. An infant, however, can repudiate what is shares before or within a reasonable time of his attaining what is age of twenty-one; if he does repudiate, he cannot recover what is money paid for them if what is shares have ever had any value. Steinberq v. Scala (Leeds), Ltd., [1923] 2 Ch. 452. S., an infant, agreed to take 500 £1 shares in a company, and paid lOs. on each share. She received no dividend on what is shares. While still an infant she repudiated what is shares, and brought an action (1) to recover what is money she had paid, and (2) for a declaration that she was not liable for future calls. Held, (1) as what is shares at one time had a market value, S. could not recover money already paid, but (2) S. was not liable for future calls. 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 67 where is strong CHAPTER 8 MEMBERSHIP OF A COMPANY where is p align="justify" permission is refused before three weeks from what is closing of what is lists, what is allotment is void and what is money must be returned within eight days. Failure to apply for or obtain permission also renders an allotment under an underwriting contract void. When permission is granted, what is money can be taken out of what is separate bank account and used in what is ordinary way. Return as to Allotments (s. 52).-Whenever a company makes any allotment of its shares, it must, within a month, register with what is Registrar: 1. A return of what is allotments, stating what is number and nominal amount of what is shares, what is names, addresses and descriptions of what is allottees and what is amount paid on each share. 2. In what is case of shares allotted otherwise than in cash, what is contract constituting what is title of what is allottee, and a return stating what is number and nominal amount of shares allotted, what is extent to which they are paid up, and what is consideration for allotment. If such a contract is not in writing, particulars of what is contract, setting out what is consideration, must be filed. Compliance with these requirements is enforced by a penalty of £50 a day on every director, manager, secretary or other officer of what is company who is knowingly a party to what is default. what is Court has power to grant relief if what is omission to deliver any document within what is prescribed time is due to inadvertence. WHO CAN BE MEMBERS An Infant may be a member unless forbidden by what is articles. An infant, however, can repudiate what is shares before or within a reasonable time of his attaining what is age of twenty-one; if he does repudiate, he cannot recover what is money paid for them if what is shares have ever had any value. Steinberq v. Scala (Leeds), Ltd., [1923] 2 Ch. 452. S., an infant, agreed to take 500 £1 shares in a company, and paid lOs. on each share. She received no dividend on what is shares. While still an infant she repudiated what is shares, and brought an action (1) to recover what is money she had paid, and (2) for a declaration that she was not liable for future calls. Held, (1) as what is shares at one time had a market value, S. could not recover money already paid, but (2) S. was not liable for future calls. where is Server.Execute("_SiteMap.asp") %

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