(1) The directors of a company may exercise a power of the company—
(a) to allot shares in the company, or
(b) to grant rights to subscribe for or to convert any security into shares in the company,
if they are authorised to do so by the company's articles or by resolution of the company.
(2) Authorisation may be given for a particular exercise of the power or for its exercise generally, and may be unconditional or subject to conditions.
(3) Authorisation must—
(a) state the maximum amount of shares that may be allotted under it, and
(b) specify the date on
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
Involuntary manslaughter—introductionManslaughter can be classified as either voluntary or involuntary. Voluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element—hence the label voluntary manslaughter) but which are reduced to
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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