Examples of Jersey Companies Law in a sentence
The Jersey Companies Law provides that the Company may hold as treasury shares any of the limited shares that it has redeemed or purchased under the Jersey Companies Law, to the extent that it is not prohibited by the Memorandum or Articles and it is authorised by a resolution of the Company to hold shares as treasury shares.
The redemption, purchase or cancellation by a Jersey company of its shares under Part 11 of the Jersey Companies Law is not, for the purposes of Part 12 of the Jersey Companies Law, a reduction of capital.
The Jersey Companies Law sets out what is meant by share premium and what share premium may be used for.
Subject to the above, the provisions of the Jersey Companies Law relating to the reduction of the Company’s share capital apply as if each of its share premium accounts were part of its paid up share capital.
Under the Jersey Companies Law, a member of the Company may apply to the Royal Court of Jersey for an order that the Company’s affairs are being or have been conducted in a manner which is unfairly prejudicial to the interests of its members generally or of some part of its members (including at least the member) or that an actual or proposed act or omission of the Company (including an act or omission on its behalf) is or would be so prejudicial.
The Class A Shares and Class B Shares will then, in accordance with the Articles, automatically be converted into Class C Shares of no par value which carry no economic rights and, save to the extent required under the Jersey Companies Law, no voting rights.
However, it did not have a procedure to list comments received and track whether the comments were considered for use classifications in the triennial review of water quality standards.
The Company may also make distributions by way of capital distributions (or otherwise in accordance with the Jersey Companies Law and the Articles) if, and to the extent that, the Directors consider this to be appropriate.
Pursuant to the Jersey Companies Law, a liquidator must report possible criminal offences relating to the Company, those involved with it or the Directors.
Under the Jersey Companies Law, a Director will not be held to have breached his duties if all of the members of the Company authorise or ratify his act or omission and after the act or omission the Company will be able to discharge its liabilities as they fall due.