Holding Company - Law Dictionary Search Results
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holding company see company ...
Holding of investments
Holding of investments, the expression 'Holding of investments' cannot be limited to companies whose principal business is the acquisition and holding of shares, debentures, stocks or other securities as contended on behalf of the appellant but covers companies whose primary or principal source of income is house property or capital gains as well, Nown Estates (P) Ltd. v. CIT West Bengal, AIR 1977 SC 153 (157). [Income-tax Act, 1922, s. 23A Expl. 2(i)]...
company
company pl: -nies : an association of persons for carrying on a commercial or industrial enterprise compare corporation, partnership finance company : a company that makes usually small short-term loans to individuals growth company : a company that grows at a greater rate than the economy as a whole and that usually directs a relatively high proportion of income back into the business holding company : a company whose sole function is to own and control other companies investment company : a company that earns income solely or primarily by holding and investing in securities issued by other companies or by government agencies joint-stock company : a business organization whose capital is represented by shares owned by stockholders each of whom is personally liable for the company's debts limited liability company : an unincorporated company formed under applicable state statute whose members cannot be held liable for the acts, debts, or obligations of the company and that ma...
Power of Court to order meeting to be called
Power of Court to order meeting to be called, powers of Court to order meeting to be called. - (1) If for any reason it is impracticable to call a meeting of a company, other than an annual general meeting, in any manner in which meetings of the company may be called, or to hold or conduct the meeting of the company in the manner prescribed by this Act or the articles, the Court may, either of its own motion or on the application of any director of the company, or of any member of the company who would be entitled to vote at the meeting. - (a) order a meeting of the company to be called, held and conducted in such manner as the Court thinks fit; and (b) give such ancillary or consequential directions as the Court thinks expedient, including directions modifying or supplementing in relation to the calling, holding and conducting of the meeting the operation of the provisions of this Act and of the company's articles. Explanation. - The directions that may be given under this sub-section...
pyramid
pyramid 1 : a group of holding companies superimposed on one another to give those in control of the top holding company control over all of the companies with a small investment 2 : the series of operations involved in pyramiding on an exchange 3 : a pyramid scheme vi : to speculate (as on a security or commodity exchange) by using paper profits as a margin for additional transactions vt 1 : to use (as profits) in speculative pyramiding 2 : to increase the impact of (as a tax assessed at the production level) on the ultimate consumer by treating as a cost subject to markup adj : of, relating to, or being an illegal scheme in which participants give money or other valuables in exchange for the opportunity to receive payment for recruiting others to participate in the scheme ...
Private company
Private company. A 'private company' is defined by s. 26 of the (English) Companies Act, 1929, as follows:-Company privately formed by members who subscribe the whole of the capital among them-selves.26. --(1), For the purposes of this Act the expression 'private company' means a company which by its articles-(a) restricts the right to transfer its shares; and(b) limits the number of its members to 50, not including persons who are in the employment of the company and persons who, having been formerly in the employment of the company, were, while in that employment and have continued after the determination of such employment to be, members of the company; and(c) prohibits any invitation to the public to subscribe for any shares or debentures of the company.(2) Where two or more persons hold one or more shares in a company jointly they shall, for the purposes of this section, be treated as a single member.S. 27, ibid., provides that if a company alters its articles so that the provisio...
Officer
Officer. See ARMY; NAVY. A contract between the Crown and any of its military or naval officers for services rendered or to be rendered is not enforceable in a Court of law, see Jynaston v. A.G., 49 TLR 300.It means a person commissioned, gazetted or in pay as an officer in the Air Force, and includes--(a) an officer of any Air Force Reserve or the Auxiliary Air Force who is for the time being subject to this Act.(b) in relation to a person subject to this Act when serving under such conditions as may be prescribed, an officer of the regular Army or the Navy. [Air Force Act, 1950, s. 4(xxiii)]It means a president, vice-president, chairperson, vice chair-person, managing director, secretary, manager, member of a board, treasurer, liquidator, an administrator appointed under s. 123 and includes any other person empowered under this Act or the rules or the bye-laws to give directions in regard to the business of a multi-State co-operative society. [Multi-State Co-operative Societies Act, ...
holding company
A company that controls other independently incorporated companies by ownership of most or all of their stock but does not directly control the daily operations of those companies...
Disposition of the company's property
Disposition of the company's property, where a company pays a creditor by cheque between the date of petition and the winding up order against the company, it is illogical to hold that there is an additional disposition in favour of the bank where the company is in credit prior to payment of the cheque and the bank, in paying the cheque, debits the cheque against the company's credit balance with the bank, Hollicourt (Contracts) Ltd. v. Bank of Ireland (CA), (2001) Ch LR 555.A control for the disposition of land and an effected disposition; that the expression 'sold, leased or otherwise disposed of by a disposition' was not apt to include a contract to make a disposition of land but referred only to a disposition which had actually been effected, Boyoumi v. Women's Total Abstinence Union Ltd., (2003) 2 WLR (Charities Act, 1993, s. 37)...
Contributory
Contributory, a person liable to contribute to the assets of a company in the event of it being wound up. See also Re Aidall Ltd., 1933 Ch 323. Two lists of contributories are prepared by the liquidator, viz., one (the 'A list') of those who are shareholders at the time of the winding-up order, and who are primarily liable to contribute, and another (the 'B list') of those who have ceased to be shareholders but have been shareholders within the twelve months previously, and who are liable in a secondary degree. A shareholder may sometimes avoid liability by transfer to a pauper. See Re Discoveries Finance Corporation, (1910) 1 Ch 312, but see Hyam's Case, (1859) 1 De 9 F&J 75. Directors with unlimited liability of a limited company are (in addition) liable as if they were members of an unlimited company unless they have ceased to hold office for a year or upwards before the commencement of the winding-up. See generally (English) Companies Act, 1929, ss. 157-192; COMPANY, and LIMITED LI...
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