Beneficient - Law Dictionary Search Results
Home Dictionary Name: beneficientUnconditionally and beneficially
Unconditionally and beneficially, the words 'un-conditionally' and 'beneficially' underline the fact that no person who holds a share or shares not for his own benefit but for the benefit of another and who does not exercise freely his voting power, can be said be belong to that body, which is designated 'public'. The word 'public' is used in contradis-tinction to one or more persons who act in unison and among whom the voting power constitutes a block. If such a block exists and possesses more than seventy-five per cent. of the voting power, then the company cannot be said to be one in which the public are substantially interested, Raghuvanshi Mills Ltd. v. Commissioner of Income Tax, AIR 1961 SC 743 (746): (1961) 2 SCR 978....
beneficial
beneficial 1 : providing benefits or advantages 2 : receiving or entitling one to receive an advantage, benefit, or use [a shareholder] [a estate] ben·e·fi·cial·ly [-shə-lē] adv ...
beneficial interest
beneficial interest see interest ...
beneficial owner
beneficial owner see owner ...
beneficial use
beneficial use see use ...
Beneficially
In a beneficial or advantageous manner profitably helpfully...
Beneficialness
The quality of being beneficial profitableness...
Beneficial interest
Beneficial interest, means (1) a company's residual interests under pension and employee's share schemes; (2) employer's charges and other rights of recovery; and (3) on trustees right to expenses, remuneration and indemnity, Halsbury's Laws of England, Vol. 7(1), 4th Edn., Para 343, p. 235....
Beneficial owner
Beneficial owner, See COVENANTS, TITLE FOR, and also s. 76 of the (English) L. P. Act, 1925, replacing s. 7, Conveyancing Act, 1881.means a person whose name is recorded as such with a depository. [Depositories Act, 1996 (22 of 1996), s. 2 (1) (a)]Means a person having the right to deal with the shares as his own, Halsbury's Laws of England, Vol. 8(1), 4th Edn., Para 2183, p. 2182; Brookland Selangor Holdings Ltd. v. IRC, (1970) 2 All ER 76: (1970) 1 WLR 429; Baytrust Holdings Ltd. v. IRC, (1971) 3 All ER 76: (1971) 1 WLR 1333; Holmleigh Holdings Ltd. v. IRC, (1958) 37 ATC 406....
Beneficial transaction
Beneficial transaction, for a transaction to be regarded as of benefit to the family it need not be of defensive character so as to be binding on the family. In each the court must be satisfied from the material before it that it was in fact such as conferred or was reasonably expected to confer benefit on the family at the time it was entered into. Where adult members are in existence the judgment is to be not that of the Manager of the family alone but that of all the adult members of the family, including the manager, Balmukand v. Kamlawati, AIR 1964 SC 1385 (1388): (1964) 6 SCR 321....
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