Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. The memorandum of association

Collection:: Economics Books

[8 SECRETARIAL PRACTICE 6 weeks change its name to one not containing those words; and in the event of default will be liable to a fine of £50 for every day during which the default continues [s. 19 (3)]. A company may also, in certain circumstances, alter its objects clause by passing a special resolution, and presenting a petition to the Court for confirmation of the alteration, when the Court may confirm the alteration, on such terms and conditions as it thinks fit, after being satisfied that sufficient notice has been given to debenture-holders and to persons whose interests will, in the opinion of the Court, be affected by the alteration, and that creditors who in the opinion of the Court are entitled to object have either con- sented, or been paid, or that their debts have been secured. An office copy of any order confirming an alteration of the objects clause must be delivered by the company to the Registrar for registration within fifteen days from the date of the order. The matter is dealt with in s. 5 of the Act. These alterations in the objects clause may only be made so far as they are required to enable the company: (a) to carry on its business more economically or more efficiently; or (b) to attain its main purpose by new or improved means; or (c) to enlarge or change the local area of its operations; or (d) to carry on some business which, under existing circum- stances, may conveniently or advantageously be combined with the business of the company; or (¢) to restrict or abandon any of the objects specified in the memorandum ; or (f) to sell or dispose of the whole or any part of the under- taking of the company; or (g) to amalgamate with any other company or body of persons. The alteration contemplated by (a) is one which will leave the business of the company substantially what it was before re Cyclists’ Touring Club (1907), 1 Ch. 209]. As a condition of confirming alterations in the objects of a company, the Court has, whilst sanctioning additional objects, required the insertion of a clause to the effect that no such additional objects shall be undertaken, except as a subsidiary object, without the sanction of a special resolu- tion of the company [John Brown & Co. (1914), 84 L.J. Ch. 245].

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