The objects of section 49 of the Close Corporations Act are not advanced by limiting the Court's power to making orders relating to the day-to-day running of the ordinary business of the corporation.
32.
Prior to 1 April 2012 this tax was known as the "'Secondary Tax on Companies "'and took the form of a 10 % tax on the net dividend distributed by companies and closed corporations.
33.
The section gives the court the power to make orders " with a view to settling the dispute " between the members of a close corporation if it is just and equitable to do so.
34.
The governing charter thenceforth in many boroughs, though not in all, was the charter which had established a close corporation, and from this time on to 1835 the boroughs made no progress in constitutional growth.
35.
Section 49 of the Close Corporations Act places a similar onus on a member who considers that he is being unfairly prejudiced and seeks to invoke its provisions as does section 252 of the Companies Act.
36.
A review is not an attest function and will be performed by Accountants who are members of bodies that are registered in terms of the Close Corporations Act of 1984, which include SAIBA, CIMA, SAICA, SAIPA and ACCA.
37.
In " Cohen v Segal ", the court held that a dividend may not be declared which has the effect of diverting a portion of the " corpus " of the company ( or close corporation ) to the shareholders.
38.
Indiana Congressman Charles Halleck gave the nominating speech for Willkie on the evening of June 26, arguing that Willkie's recent conversion to the Republican Party was no reason not to nominate him, " is the Republican Party a closed corporation?
39.
In 2010 Ihor Lytovchenko headed the business unit " Ukraine " company �VimpelCom Ltd . ? which united Ukrainian telecom operators-" Kyivstar " and �Beeline-Ukraine " ( close corporation " Ukrainian Radio Systems " and limited company " Golden Telecom " ).
40.
In terms of section 29 ( 1 ) of the Close Corporations Act, only natural persons are permitted to be members of a close corporation, subject to certain exceptions in section 29 ( 2 ) ( b ) and ( c ).
