Subsidiary - Law Dictionary Search Results
Home Dictionary Name: subsidiarysubsidiary
subsidiary pl: -ar·ies : a company having the majority of its stock owned by another company compare affiliate NOTE: The parent company of a subsidiary generally has the same policy-making powers as any majority owner and can do such things as appoint directors and hire officers. The subsidiary is controlled by the parent through these powers, and the parent may be held liable for the acts of the subsidiary if the subsidiary is found to be an instrumentality of the parent. subsidiary adj ...
Delegation of subsidiary or ancillary measure
Delegation of subsidiary or ancillary measure, when a legislature is given plenary power to legislate on a particular subject there must also be an implied power to make laws incidental to the exercise of such power. It is a fundamental principle of constitutional law that everything necessary to the exercise of a power is included in the grant of the power. A legislature cannot certainly strip itself of its essential functions and vest the same on an extraneous authority. The primary duty of law making has to be discharged by the legislature itself but delegation may be resorted to as a subsidiary or an ancillary measure, Edward Mills Co. v. State of Ajmer, AIR 1955 SC 25 (32) (Constitution of India, Art. 245)....
Wholly owned subsidiary abroad
Wholly owned subsidiary abroad, means a foreign concern formed, registered or incorporated in a foreign country in accordance with the laws and regulations of that country and whose entire capital is owned by an Indian entity. [Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, s. 2 (h)]...
Grounds
Grounds, 'Grounds' within the contemplation of s. 8(1) of the Maintenance of Internal Security Act, 1971 means 'materials' on which the order of detention is primarily based. Apart from con-clusions of facts, 'grounds' have a factual constituent, also. They must contain the pith and substance of primary facts but not subsidiary facts or evidential details. This requirement as to the communication of all essential constituents of the grounds, Vakil Singh v. State of J&K, AIR 1974 SC 2337: (1975) 3 SCC 545.Grounds mean all the basic facts and materials which have been taken into account by the detaining authority in making the order of detention and on which therefore, the order of detention is based, Khudiram Das v. State of West Bengal, AIR 1975 SC 550: (1975) 2 SCC 81: (1975) 2 SCR 832.'Grounds' in Article 22(5) do not mean mere factual inferences but mean factual inferences plus factual material which led to such factual inferences. The 'grounds' must be self-sufficient and self-expl...
split-off
split-off : a transfer of corporate assets to a subsidiary involving the surrender of a part of the stock owned by the corporation's shareholders in exchange for controlling stock of the subsidiary : a D reorganization involving a distribution of part but not all of a corporation's stock for a subsidiary's stock ;also : a new company created by such a distribution compare spin-off, split-up ...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
merger
merger 1 : the absorption of a lesser estate or interest into a greater one held by the same person compare confusion 2 : the incorporation and superseding of one contract by another 3 a : the treatment (as by statute) of two offenses deriving from the same conduct such that a defendant cannot be or is not punished for both esp. when one offense is incidental to or necessarily included in the other [a of offenses in a statute] [a of convictions] b : the doctrine according to which such offenses must be merged compare double jeopardy NOTE: Merger commonly involves the interpretation of statutes and legislative intent in deciding whether two or more offenses deriving from the same conduct remain distinct. 4 : a doctrine in civil litigation: a judgment in favor of a plaintiff incorporates and supersedes the cause of action and any claims based on it and requires that further litigation in the case by the defendant be concerned with the judgment itself compare bar estoppel by judg...
spin-off
spin-off : a transfer of corporate assets to a subsidiary in return for a distribution to the shareholders of the corporation of all of the stock or controlling stock of the subsidiary without surrender of any stock by the shareholders of the corporation : a D reorganization involving a distribution of the stock of another company to the corporation's shareholders ;also : a new company created by such a distribution compare split-off, split-up ...
split-up
split-up : a transfer by a corporation of all its assets in complete liquidation to two or more subsidiaries that involves the surrender of all stock by the shareholders in exchange for new stock in the transferee corporations : a D reorganization involving a distribution of the stock of two or more subsidiaries to the shareholders who in return surrender all their stock in the distributing corporation compare spin-off, split-off ...
unitary
unitary 1 : having the character of a single thing that is a constituent of a whole ;specif : of, relating to, or being a business with subsidiaries in other states or nations that has its state income tax figured by including the subsidiaries' income, determining the portion of that income attributable to activities within the state, and taxing that percentage [a business operating throughout the U.S.] [imposed a tax on a multinational corporation] 2 : marked by unity : not dual or segregated : integrated [a school district] uni·tar·i·ness n ...
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