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Corporate Administration and some other chapters

Nnadir15y ago
Can you please expalin me the following in simpler words:
1. Class meetings - Quorum - Two persons holding or representing by proxy at least one-third in the nominal value of the issued shares of the class in question.( Chapter Corporate Administration)

2. (Chapter Fraudulent Behaviour- Money laundering- the three phases) Integration - culmination of the previous procedures through which the money takes on the appearance of coming from legitimate source.

3. ( Chapter Insolvency - Members voluntary liquidation)The members appoint a named insolvency practitioner as liquidator.
PLEASE REPLY, Thanks in advance
MikeLittleMikeLittleTutor15y ago#1
1 - two people who are either members or people holding the proxy forms from members ....

2 - the three steps of money laundering include the third step of integration. Integration is the third step by which laundered money then takes on the appearance of legitimate income

3 - in a members' voluntary liquidation, it is the members ( in practice, the directors ) who choose and appoint the liquidator. In a creditors' voluntary liquidation, the members NOMINATE a liquidator, but the final choice as to who shall be given the position is decided by the creditors' meeting

If that doesn't satisfactorily answer your questions, post again
Nnadir15y ago#2
For the first one I still do not understand it, I am not understanding this part: "at least one-third in the nominal value of the issued shares of the class in question" for the others I understand thanks a lot, only the first one I am not understanding.
PLEASE REPLY
MikeLittleMikeLittleTutor15y ago#3
If there were say $3,000 worth of issued "A Ordinary Shares", and there is to be a class meeting of the holders of "A Ordinary Shares", the meeting would have a quorum if 2 of those holders were present, either in person or by proxy representing them, and those two people had at least $1,000 worth of those shares.

Clear now?
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