9. Classes of shares and variation of class rights

2018 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
European Union ◽  
General Nature ◽  
Share Capital ◽  
The Core ◽  
Legal Nature ◽  
Different Types ◽  
The Subject ◽  
Class Rights ◽  
A Company ◽  
A Share

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter focuses on the rights and liabilities of a shareholder which are the incident of the general nature of a share, as well as his particular rights and liabilities by virtue of owning a particular type or class of share. It first considers the legal nature of a shareholding and the different types of share capital and typical class rights of a shareholder, as well as the statutory procedure required of a company before it can effect a variation of shareholders’ class rights. Examples of classes of shares are then given, and preferential rights attached to preference shares are discussed. The chapter concludes by looking at European Union initiatives on shareholders’ rights.

9. Classes of shares and variation of class rights

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
European Union ◽  
General Nature ◽  
Share Capital ◽  
The Core ◽  
Legal Nature ◽  
Different Types ◽  
The Subject ◽  
Class Rights ◽  
A Company ◽  
A Share

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter focuses on the rights and liabilities of a shareholder which are the incident of the general nature of a share, as well as his particular rights and liabilities by virtue of owning a particular type or class of share. It first considers the legal nature of a shareholding and the different types of share capital and typical class rights of a shareholder, as well as the statutory procedure required of a company before it can effect a variation of shareholders’ class rights. Examples of classes of shares are then given, and preferential rights attached to preference shares are discussed. The chapter concludes by looking at European Union initiatives on shareholders’ rights.

9. Classes of shares and variation of class rights

Company Law ◽  
2020 ◽  
pp. 164-176
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
European Union ◽  
General Nature ◽  
Share Capital ◽  
The Core ◽  
Legal Nature ◽  
Different Types ◽  
The Subject ◽  
Class Rights ◽  
A Company ◽  
A Share

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter focuses on the rights and liabilities of a shareholder which are the incident of the general nature of a share, as well as his particular rights and liabilities by virtue of owning a particular type or class of share. It first considers the legal nature of a shareholding and the different types of share capital and typical class rights of a shareholder, as well as the statutory procedure required of a company before it can effect a variation of shareholders’ class rights. Examples of classes of shares are then given, and preferential rights attached to preference shares are discussed. The chapter concludes by looking at European Union initiatives on shareholders’ rights.

4. Shares and Shareholders

2018 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Different Types ◽  
Questions And Answers ◽  
Class Rights ◽  
A Company ◽  
A Share

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. Shareholders in a company own shares, but the nature of a share and the rights of a shareholder are not easily defined. This chapter discusses the definition and characteristics of a share; the differences between different types of share, particularly ordinary and preference shares; transfer of shares; pre-emption rights; share certificates and estoppel; and variation of class rights.

7. Share capital

Company Law ◽  
2020 ◽  
pp. 115-143
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Company Law ◽  
Financial Assistance ◽  
Public Companies ◽  
Share Capital ◽  
The Core ◽  
Public Company ◽  
Private And Public ◽  
The Subject ◽  
A Company

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines how company law governs maintenance of a company’s share capital, with emphasis on the distinction between private and public companies. It also discusses various ways in which shareholders might legally receive funds (‘distributions’) from the company, including issuance of shares and payment of shares in kind (that is, goods, property, or services rather than in cash). The relevance of the nominal value of shares issued to shareholders, the issue of paying dividends to shareholders, and disguised return of capital to shareholders are considered as well. The chapter also examines two other means of returning funds to shareholders, reduction of share capital and redemption or purchase by a company of its own shares, before concluding with an assessment of the prohibition and the exceptions concerning the issue of financial assistance for the acquisition of shares in a public company.

scholarly journals ANALIZA KRYTYCZNA WYBRANYCH REGULACJI PRZEPISÓW KARNYCH KODEKSU SPÓŁEK HANDLOWYCH

2017 ◽  
Vol 7 (1) ◽  
pp. 195
Author(s):  
Janusz Raglewski
Keyword(s):  
Critical Analysis ◽  
Legal Nature ◽  
The Subject ◽  
A Company ◽  
A Share

Critical Analysis of Chosen Penalty Provisions of the Code of Commercial CompaniesSummaryThis article is devoted to chosen legislative problems regarding the penalty provisions of the Code of Commercial Companies („CCC”). The considerations of the author are limited to specific issues which in his opinion require prom pt changes. The author’s proposals de lege ferenda regard the following issues: 1) broadening of the subject scope of art. 585 § 1 CCC providing for the penalties for the actions to the company’s detrim ent w ith regard to personal companies; 2) removal of art. 585 § 2 CCC; 3) broadening the liability resulting from art. 586 CCC to all persons which are legally responsible for not filing a m otion for announcem ent of the bankruptcy of a company; 4) changing art. 588 CCC so that it could also provide for the penalties for allowing an acquisition (taking as a pledge) a part of a share by a company; 5) removal of art. 593 as a totally redundant, and 6) defining the legal nature of the regulations included in art. 594 and 595 CCC, accompanied by relevant amendments thereto. 

4. Shares and Shareholders

2020 ◽  
pp. 53-69
Author(s):  
Imogen Moore
Keyword(s):  
Different Types ◽  
Questions And Answers ◽  
Class Rights ◽  
A Company ◽  
A Share

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. Shareholders in a company own shares, but the nature of a share and the rights of a shareholder are not easily defined. This chapter discusses the definition and characteristics of a share; the differences between different types of share, particularly ordinary and preference shares; allotment of shares and pre-emption rights; return of capital; and variation of class rights.

4. Shares and Shareholders

2016 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Different Types ◽  
Questions And Answers ◽  
Class Rights ◽  
A Company ◽  
A Share

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. Shareholders in a company own shares, but the nature of a share and the rights of a shareholder are not easily defined. This chapter discusses the definition and characteristics of a share; the differences between different types of share, particularly ordinary and preference shares; transfer of shares; pre-emption rights; share certificates and estoppel; and variation of class rights.

7. Share capital

2018 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Company Law ◽  
Financial Assistance ◽  
Public Companies ◽  
Share Capital ◽  
The Core ◽  
Public Company ◽  
Private And Public ◽  
The Subject ◽  
A Company

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines how company law governs maintenance of a company’s share capital, with emphasis on the distinction between private and public companies. It also discusses various ways in which shareholders might legally receive funds (‘distributions’) from the company, including issuance of shares and payment of shares in kind (that is, goods, property, or services rather than in cash). The relevance of the nominal value of shares issued to shareholders, the issue of paying dividends to shareholders, and disguised return of capital to shareholders are considered as well. The chapter also examines two other means of returning funds to shareholders, reduction of share capital and redemption or purchase by a company of its own shares, before concluding with an assessment of the prohibition and the exceptions concerning the issue of financial assistance for the acquisition of shares in a public company.

7. Share capital

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Company Law ◽  
Financial Assistance ◽  
Public Companies ◽  
Share Capital ◽  
The Core ◽  
Public Company ◽  
Private And Public ◽  
The Subject ◽  
A Company

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines how company law governs maintenance of a company’s share capital, with emphasis on the distinction between private and public companies. It also discusses various ways in which shareholders might legally receive funds (‘distributions’) from the company, including issuance of shares and payment of shares in kind (that is, goods, property, or services rather than in cash). The relevance of the nominal value of shares issued to shareholders, the issue of paying dividends to shareholders, and disguised return of capital to shareholders are considered as well. The chapter also examines two other means of returning funds to shareholders, reduction of share capital and redemption or purchase by a company of its own shares, before concluding with an assessment of the prohibition and the exceptions concerning the issue of financial assistance for the acquisition of shares in a public company.

scholarly journals Legal status of the company's share in own authorized capital under the Law of Ukraine “On limited and additional liability companies”: problems of legal regulation

2021 ◽  
Vol 11/1 (-) ◽  
pp. 31-36
Author(s):  
Volodymyr TSIUPRYK
Keyword(s):  
Legal Status ◽  
Limited Liability ◽  
General Meeting ◽  
Legal Regulation ◽  
Legal Nature ◽  
The Law ◽  
The Right ◽  
A Company ◽  
Authorized Capital ◽  
A Share

Introduction. Nowadays, the issue of determining the legal status of the company's share in the own authorized capital of LLC and TDV has become quite acute, as evidenced by the adoption on July 28, 2021 by the Commercial Court of Cassation in Case № 904/1112/20, in which the Court established a new approach legal nature of such a phenomenon and expressed his own position on the understanding of the legislation concerning the legal status of the share of LLC and TDV in its own authorized capital. Given that a limited liability company is the most popular type of legal entity that is chosen to conduct business in Ukraine, the analysis of this issue is relevant. Some scientific value for the development of the transfer of the participant's share are the works of individual authors devoted to the study of the legal nature of the share in the authorized capital but the problems arising around the legal status of the company. in their own authorized capital in these works were only mentioned along with others, but did not receive a detailed separate study. The purpose of the paper is to analyze the normative regulation of the legal status of the company's share in the own authorized capital of LLCs and ALCs, identification of shortcomings in their legal regulation and implementation, as well as the search for ways to eliminate them. Results. One of the most relevant decisions concerning the subject of this article is the Judgment of the Commercial Court of Cassation in case № 904/1112/20 of July 28, 2021. The court in this case found that the votes attributable to the share belonging to the company itself are not taken into account when determining the results of voting at the general meeting of participants on any issues. However, Ukrainian legislation does not contain any direct norms that would prohibit the exercise of the right to manage a company in relation to itself on the basis of a share in its own authorized capital. That is why the company cannot be a participant in relation to itself, although they seem logical, but do not have sufficient regulatory support, and therefore do not allow to be firmly convinced of their compliance with the law. In view of this, it can be stated that there is a significant gap in the national legislation on this issue, which, in our opinion, the Court failed to “fill” with this decision in the case. Conclusion. In the Ukrainian legislation at the level of the Law of Ukraine “On Limited and Additional Liability Companies” Article 25 defines the possibility for a company to acquire a share in its own authorized capital. However, the regulation of the legal status of such a share cannot be called sufficient, due to which in practice there are certain problems in the implementation of the provisions of the legislation concerning the share of the company in its own authorized capital. The solution of these legal problems is necessary to ensure the highest quality and clarity of the law, as well as to form case law with common approaches to understanding a single rule.

Sign in / Sign up

Export Citation Format

Share Document