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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIV. Scottish companies

Collection:: Economics Books

CHAPTER XXIV SCOTTISH COMPANIES Trusts. THE Companies Act, 1929, applies generally only to England and Scotland. Certain parts of the Act are expressly limited to companies registered in England, and s. 384 provides that nothing in the Act except the provisions thereof which relate expressly to companies registered or incorporated in Northern Ireland or outside Great Britain shall apply to or in relation to companies registered or incorporated in Northern Ireland, whilst in some cases provisions applicable only to companies registered in Scotland appear. It is proposed in this chapter to point out and consider the principal portions of the Acts relating to companies before liquidation which are limited to Scottish companies, and those from the operation of which Scottish companies are excluded, and to indicate the principal points of difference between Scottish and English business practice in connection with these statutory provisions. The most important differences appear in the matter of the recognition of trusts and the practice as to transfers, etc., and in the law as to debentures. S. ror of the Act of 1929 prohibits the recognition of trusts on the registers of com- panies registered in England. The existence of a trust is commonly recognised by Scottish companies, and persons may be registered in any representative capacity, e.g. as executors, or trustees, of a deceased person; ‘curator bonis for ... ; ‘factor loco tutoris to . . .”; ‘in trust for . . .’; for behoof of ...”; ‘for and on behalf of . . .’; or as office-bearers. But registration as trustees does not limit the holders’ liability for calls to the amount of the trust estate in their hands; they are as completely liable as if the trust were not disclosed. A majority of the accepting and acting trustees or executors usually form a quorum and can act so as to bind the estate under their charge, and a transfer signed by such quorum is therefore quite in order unless the deed of trust otherwise provides [see the Trusts (Scotland) Act, 1921, s. 3]. When changes take place in the personnel of the trustees or executors by death. resignation, or the 206

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