UK Company Law Shareholders and Directors Essay

UK Company Law Shareholders and Directors - Essay Example If S has began to take less active part in the management of the company, she can be paid less than the agreed amount. However, this should be done according to the laid down procedure. In her present state, she is entitled to be paid the agreed amount of money that is 30,000 Pounds. Paying her 10,000 is unjustified because in order to effect this, the directors must pass a special resolution requiring that: - (1) In absence of any express words in the articles requiring that a director who takes a less active role in the company shall be entitled a salary three times less of his / her monthly, she is entitled for the whole pay of 30,000 pounds. (2) In absence of any special resolution, which is passed at a general meeting o a company by a majority of 75% of members present and entitled to vote, the directive of the directors to the payroll staff to pay S 10,000 pounds is unjustified. In this case S can challenge the decision of the directors in a court of law if they adamantly refuse to pay her 30,000 pounds, which she is entitled to be paid till the meeting is convened, and resolution passed to this effect. First of all, the proposal has to be approved by the directions who make-up the board. The board shall decide the date and time of the general meeting and secretary will be authorized to convene the meeting. The directors will also approve the draft of notice, special resolution and explanatory statement. Secondly, the special resolution should be passed in the general meeting held on the appointed date. Thirdly, within thirty days of the passing of the resolution the company has to file a certified copy of the resolution. After the approval, the company should file printed copies of the articles with the registrar of companies within one month of the date of the receipt of approval. The company Act provides that, subject to the provisions of the Act and to the conditions contained in this

What characteristics and events in Chinese history prevented China Essay

What characteristics and events in Chinese history prevented China from becoming a world power before 1949 - Essay Example This paper will outline some of the main contours leading to the Chinese rise of economic superiority over the western civilization prior to the 19th century, after which it will be possible to account for the rise of the western civilization from the eastern origins. From as early as 1078, historical records indicate that china was the world’s major steel producer, thereby outweighing the British as producers of steel. Apart from this production, it is also possible to determine that China was leading in international trade, thereby possessing the largest commercial ships, which had the capacity of transporting 3,000 tons worth of goods. By 1750, it is possible to determine that China’s per capita income could probably match that of Great Britain since they had a stable economy, technological developments and high agricultural yields. From this point, the Europeans and British manufacturers were able to follow China’s lead thereby borrowing and assimilating its advanced technology mainly for the penetration of the Chinese lucrative and advanced market. The western conquest of the East was militaristic, and they justified their conquest to with its non-reciprocal economic relation with their trading countries overseas. On the other hand, China’s predominance was on the basis of reciprocal benefits with its overseas trading partners since the country’s rulers were accustomed or relied on their superiority in production, banking skills and sophisticated commercial skills (Rosenthal et al, 36). In contrast, the western nations were relying on military conquest, destruction of competitiveness, and tariff protection. Consequently, it is possible to determine that the British were not hesitant in exterminating some of the communities that were resistant to their policies. With their inability to invade the Chinese market by great economic competitiveness, the British relied on military power in their conquest, thereby leading armed