A Handy Book on the Formation, Management and Winding Up of Joint Stock Companies

A Handy Book on the Formation, Management and Winding Up of Joint Stock Companies

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 edition. Excerpt: ...them with an agreement authorising the proxy to fill in the date. This is questionable, and it may be that the agreement requires a ten-shilling stamp as e. letter of attorney. 4 Re Lancaster, 5 Ch. D. 911; Carter v. White, 25 Ch. D. 666. It is the duty of the secretary to examine the instruments of proxy that may be sent in, and to report any irregularity to the directors. Proxies which are not in accordance with the regulations of the company must be rejected as invalid: e.g., if the Articles of Association require an instrument of proxy to be witnessed, it is invalid if not so witnessed.1 It is for the chairman of the meeting to receive or reject proxies, and his decision is binding, unless it is proved to the Court to be wrong.'' The directors must not employ the company's funds in printing or sending out to shareholders proxy forms filled up with the names of the directors or their nominees as the proxies, nor in stamping any proxy forms; but they may send out at the company's expense unstamped proxies in blank.3 l Harben v. Phillips, 23 Ch. D. 14-. 1 Indian Zoedone Co., 26 Ch. D. 70. "Studdert v. Grosvenor, 83 Ch. D. 528. ACTS OUTSIDE THE POWERS OF THE COMPANY OR OF ITS DIRECTORS. THE acts which a company or its directors do or purport to do may be void upon several grounds, which may be summarised as follows: --(1) They may be contrary to public policy generally, as, for instance, an agreement for compounding a felony; (2) They may be forbidden by statute, as, for instance, the holding of lotteries; (3) They may be contrary to the policy of some particular statutes, as, for instance, a reduction of the capital of a joint stock company not carried out in accordance with the provisions of the Companies...show more

Product details

  • Paperback | 192 pages
  • 189 x 246 x 10mm | 354g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236878671
  • 9781236878670