Debenture as Alternate Scheme of Raising Investment Fund and Its Prospects under Ethiopian Company Law

With a view to attracting investors, the Government of Ethiopia has offered a variety of incentives and financing schemes. However, the incentives or loan options can be inadequate, susceptible to corrupt practices and inaccessible to many business undertakings. This article examines other possible options of raising investment fund privately from the general public by issuing debt security (debenture). Instead of looking for hand outs of governments or sole reliance on bank loan, investors can raise investment fund from the general public –even beyond national borders– by offering debenture bonds for public subscription. A debenture is debt security that entitles its holder to collect periodic interest until the loan is paid back. Compared to bank loans, raising investment fund through the instrumentality of debentures is more advantageous. The rate of interest, the volume of loan needed for running business, and the time for repayment can be determined by investors. Moreover, the loan is not generally subject to collateral. This article highlights the nature, form, and class of debenture under Ethiopian law, and discusses the legal requirements for the issuance of debenture, the amount of money that can be raised by issuing debentures, the status of debentures in Ethiopia, and legal safeguards for repayment of the loan. Key terms Debenture, Bond, Investor, Floating charge, Creditor, Debtor, Ethiopia

ALTERNATE SCHEME FOR OPTICAL CLUSTER-STATE GENERATION WITHOUT NUMBER-RESOLVING PHOTON DETECTORS

We design a controlled-phase gate for linear optical quantum computing by using photodetectors that cannot resolve photon number. An intrinsic error-correction circuit corrects errors introduced by the detectors. Our controlled-phase gate has a 1/4 success probability. Recent development in cluster-state quantum computing has shown that a two-qubit gate with non-zero success probability can build an arbitrarily large cluster state only with polynomial overhead. Hence, it is possible to generate optical cluster states without number-resolving detectors and with polynomial overhead.

Air Extraction in a Gas Turbine for Integrated Gasification Combined Cycle (IGCC): Experiments and Analysis

This paper presents an investigation of extracting air from the compressor discharge of a heavy-frame gas turbine. The study aimed to verify results of an approximate analysis: whether extracting air from the turbine wrapper would create unacceptable nonuniformity in the flow field inside the compressor discharge casing. A combined experimental and computational approach was undertaken. Cold flow experiments were conducted in an approximately one-third scale model of a heavy-frame gas turbine; a closely approximated three-dimensional computational fluid dynamic analysis was also performed. This study substantiated the earlier prediction that extracting air from the turbine wrapper would be undesirable, although this method of air extraction is simple to retrofit. Prediffuser inlet is suggested as an alternate location for extracting air. The results show that not only was the problem of flow nonuniformity alleviated with this alternate scheme, but the frictional power loss in the compressor discharge casing was also reduced by a factor of two.

Air Extraction in a Gas Turbine for Integrated Gasification Combined Cycle (IGCC): Experiments and Analysis

This paper presents an investigation of extracting air from the compressor discharge of a heavy-frame gas turbine. The study was aimed to verify results of an approximate analysis: whether extracting air from the turbine wrapper would create unacceptable nonuniformity in the flow field inside the compressor discharge casing. A combined experimental and computational approach was undertaken. Cold flow experiments were conducted in an approximately one-third scale model of a heavy-frame gas turbine; a closely approximated 3-D computational fluid dynamic analysis was also performed. This study substantiated the earlier prediction that extracting air from the turbine wrapper would be undesirable although this method of air extraction is simple to retrofit. Prediffuser inlet is suggested as an alternate location for extracting air. The results show that not only the problem of flow non-uniformity was alleviated with this alternate scheme, but the frictional power loss in the compressor discharge casing was also reduced by a factor of two.

CHROMOSOMAL POLYMORPHISM IN PISSODES WEEVILS: FURTHER ON INCOMPATIBILITY IN P. TERMINALS

The North American Pissodes terminalis exhibits dual sexual dichotomy of its karyotype. Whereas females are invariably homozygous both for the sex chromosomes and a pair of metacentric autosomes (XC/XC), all males are double heterozygotes (XC/Ycc), one C being replaced by its corresponding twin acrocentrics. Consequently females produce only X/C eggs but, since meiotic orientation of the XY II and the Ccc III is random, males should produce four types of spermatozoa in equal proportions. If so, to render the dual dichotomy permanent, effective fertilization must perforce be solely by XC and Ycc sperms.Hybrids have been obtained between different taxa that are monomorphic either for two C-metacentrics or for their equivalent twin c-acrocentrics. When the cs in hybrid males are of paternal origin, the semi-incompatibility system (SIS), as seen in terminalis, is immediately synthesized and thereafter faithfully perpetuated. When, however, they are of maternal origin, free recombination ensues both in the F2 and backcrosses. An identical alternate scheme of inheritance is displayed when terminalis is one or the other parent. Egg viability, sex ratio, late mortality, and family size in SIS hybrids show no significant deviation relative to those of monomorphic species or non-SIS hybrids. It is therefore concluded that the autosomal heterozygosity of SIS males is a consequence not of a balanced lethal mechanism but of selective fertilization. This system can be formally ascribed to translocation of a factor from one of the twin acrocentrics to the Y (Xcc: Ycc → Xcc/Y+c−c); thereby these two mutually compensating chromosomes became permanently linked in heredity and concomitantly excluded from females.The synthesis of the SIS in intra-complex hybrids demonstrates that the seeming random recombination in c-acrocentric species is illusory. They likewise possess a built-in SIS, one that is only exposed after crossing to C-metacentric females. Significantly, other species complexes in the genus also have an innate SIS, but they fail to conceal it because in males their c/c− II is readily visible. Thus it follows that the mutation did not originate in terminalis, a species of obvious recent origin.The absence of the system from C-metacentric taxa, we attribute to their obvious Robertsonian origin from c-acrocentric SIS species by centric fusion of nonhomologues. Such a fusion, by arising in the female, exempts the male c− from direct participation and, following introduction of the newly formed C chromosome into males(v. terminalis), merely await loss of the plus factor from the Y+ to ensure the free recombination currently seen in C:C taxa, for Yc−c gametes should thereby be totally incapacitated.