912
Dividends—continued
barred by statute, payment of, when, 187
bonus, 190. And see Bonus sharas
capital account, payment out of credit balance, 190
capital and net profits, distinction between, 188
capital, interest payable out of, 186
Board of Trade’s sanction to, 186
capital, payment out of, illegal, 186, 188
even if authorised by memorandum or articles, 188
capitalisation of profits, 190 :
cash, as to payment in, 187, 191
circulating capital to be made good prior to payment of, 18g
what is, 189
cumulative, what are, 38
debt, tare, due from company, 187
declaration of, 186
directors, power of, to declare, 186
interim dividends, may declare, 187
liability, if payment out of capital, 188
due, when become, 187
fixed capital, effect of on, 189
what is, 189
forfeiture of, clause in articles as to, not illegal, but undesirable, 188
general meeting, power to declare may be vested in, 187
income tax, deduction of, from, 332
how arrived at, 332
particulars to be furnished, 332
preference dividends, as to, 332
infant, rights as to, 106, 107
guardian may receive, 107
must repay if shares repudiated on majority, 106
payment into Court when, 107
warrants may be issued to, 109
instalments, payable by, right to, vests immediately, 187
interest, whether bear, 187
interim, declaration of, 22, 187
joint holders, in case of, 42, 192
warrants, how sent in case of, 192
net profits, as to payment out of, 188
depreciation or loss, 188
notice in lieu of distringas may prevent payment of, 80, 192
payment of, 186, 338
resolution for, form, 162, 338
restrained by notice, 80, 192
post, may be sent by, 192
preferential, 38
profits available for distribution, 189
capitalisation of, 190
meaning of ‘ profits,” 188
request, form of, 192, 474, 475
preserved, should be, 192
reserve, provision for, 190. And see Reserve fund
bonus out of, 190
may be formed before distribution of, 190
revenue, payable out of, or from net profits, 188
resolution to pay (directors) form of, 162
resolution to pay, form of minute of, 338
share warrants, pavment of. how provided for, in case of, 117

INDEX