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Page 279

CHAPTER 26
STATUTORY COMPANIES.

them. Penalties may be imposed, recoverable before justices, , on every officer or servant of the company offending the bye-laws, not exceeding E5 for each offence. (55)

DIVIDENDS
Dividends are declared by the company in general meeting. Before the meeting, the directors must prepare a scheme showing the profits since the last ordinary meeting at which a dividend was declared, and apportioning so much of the profits as they consider applicable for the purposes of dividend among the shareholders. The scheme must be exhibited at the meeting.(56)
Before apportioning the profits to be divided among the shareholders, the directors may, if they think fit, set apart a fund for contingencies. (57)
Dividends must not be paid so as to reduce the capital stock of the company; but with the consent of the mortgagees and bond creditors of the company, given after notice, a return of any portion of the capital stock may be made. (58) The expression " capital stock " means the paid-up capital and not the capital assets of the company.

Cross v. Imperial Continental Gas Assn., [1923] 2 Ch. 553. The undertakings of a gas company in several German towns were compulsorily acquired by the German Government. The price at which they were acquired showed a profit over the book
values of the undertakings and the company proposed to distribute part of this profit as dividend. A debenture holder objected. Held, a reduction of the company's capital assets was not a reduction of the company's " capital stock " and the dividend could be distributed.

Dividends cannot be paid in respect of any shares on which calls have been made and are unpaid. (59)

MEETINGS
Ordinary Meetings.-Within one month of the passing of the special Act, or within the prescribed time, the first general meeting of the company must be held. Subsequent ordinary meetings must be held at the prescribed periods or, if no periods are prescribed, in February and August in each year or at such other periods as are appointed by an order of a general meeting. The business to be transacted at an ordinary meeting is the matters appointed by the 1845 Act (ante,

55 Ibid., as. 124-127.
56 Ibid., s. 120.
57 Ibid., s. 122.
58 Ibid., s. 121.
59 Ibid., s. 123.

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where is HTML where is HEAD where is TITLE them. Penalties may be imposed, recoverable before justices, , on every officer or servant of what is company offending what is bye-laws, not exceeding E5 for each offence. (55) DIVIDENDS Dividends are declared by what is company in general meeting. Before what is meeting, what is directors must prepare a scheme showing what is profits since what is last ordinary meeting at which a dividend was declared, and apportioning so much of what is profits as they consider applicable for what is purposes of dividend among what is shareholders. what is scheme must be exhibited at what is meeting.(56) Before apportioning what is profits to be divided among what is shareholders, what is directors may, if they think fit, set apart a fund for contingencies. (57) Dividends must not be paid so as to reduce what is capital stock of what is company; but with what is consent of what is mortgagees and bond creditors of what is company, given after notice, a return of any portion of what is capital stock may be made. (58) what is expression " capital stock " means what is paid-up capital and not what is capital assets of what is company. Cross v. Imperial Continental Gas Assn., [1923] 2 Ch. 553. what is undertakings of a gas company in several German towns were compulsorily acquired by what is German Government. what is price at which they were acquired showed a profit over what is book values of what is undertakings and what is company proposed to distribute part of this profit as dividend. A debenture holder objected. Held, a reduction of what is company's capital assets was not a reduction of what is company's " capital stock " and what is dividend could be distributed. Dividends cannot be paid in respect of any shares on which calls have been made and are unpaid. (59) MEETINGS Ordinary Meetings.-Within one month of what is passing of what is special Act, or within what is prescribed time, what is first general meeting of what is company must be held. Subsequent ordinary meetings must be held at what is prescribed periods or, if no periods are prescribed, in February and August in each year or at such other periods as are appointed by an order of a general meeting. what is business to be transacted at an ordinary meeting is what is matters appointed by what is 1845 Act (ante, 55 Ibid., as. 124-127. 56 Ibid., s. 120. 57 Ibid., s. 122. 58 Ibid., s. 121. 59 Ibid., s. 123. 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 279 where is strong CHAPTER 26 STATUTORY COMPANIES. where is p align="justify" them. Penalties may be imposed, recoverable before justices, , on every officer or servant of what is company offending what is bye-laws, not exceeding E5 for each offence. (55) DIVIDENDS Dividends are declared by what is company in general meeting. Before what is meeting, what is directors must prepare a scheme showing what is profits since what is last ordinary meeting at which a dividend was declared, and apportioning so much of what is profits as they consider applicable for what is purposes of dividend among what is shareholders. what is scheme must be exhibited at what is meeting.(56) Before apportioning what is profits to be divided among what is shareholders, what is directors may, if they think fit, set apart a fund for contingencies. (57) Dividends must not be paid so as to reduce what is capital stock of what is company; but with what is consent of what is mortgagees and bond creditors of what is company, given after notice, a return of any portion of what is capital stock may be made. (58) what is expression " capital stock " means what is paid-up capital and not what is capital assets of what is company. Cross v. Imperial Continental Gas Assn., [1923] 2 Ch. 553. The undertakings of a gas company in several German towns were compulsorily acquired by what is German Government. what is price at which they were acquired showed a profit over what is book values of what is undertakings and what is company proposed to distribute part of this profit as dividend. A debenture holder objected. Held, a reduction of what is company's capital assets was not a reduction of what is company's " capital stock " and what is dividend could be distributed. Dividends cannot be paid in respect of any shares on which calls have been made and are unpaid. (59) MEETINGS Ordinary Meetings.-Within one month of what is passing of what is special Act, or within what is prescribed time, what is first general meeting of what is company must be held. Subsequent ordinary meetings must be held at what is prescribed periods or, if no periods are prescribed, in February and August in each year or at such other periods as are appointed by an order of a general meeting. what is business to be transacted at an ordinary meeting is what is matters appointed by what is 1845 Act (ante, 55 Ibid., as. 124-127. 56 Ibid., s. 120. 57 Ibid., s. 122. 58 Ibid., s. 121. 59 Ibid., s. 123. where is Server.Execute("_SiteMap.asp") %

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