06-29-2009, 04:23 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by retarded</i>
<br />Can any one still reply for this question?[D]
as i also took that exam but failed[(!]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Company Ordinance 1984 does not specifically mention those circumstances under which membership is terminated, however,it may be appraised after going through some of the sections related to membership, and as per common practise , the following cases may result in a termination of mambership,
1. When a member <b>transfers</b> his shares and execute a transfer deed in favour of transferee.
2. When shares are validly <b>surrender</b>
3. In case of <b>transmission of shares </b> in favour of legal heirs, due to reasons specified.
4. In case of <b>redemption of preference shares</b>, if authorised by Memorandum and Articles.
5. When a member distributes his holding as a <b>gift</b> with a duly executed transfer deed.
6. When the name of any person is <b>removed from the register </b> of members.
7. When a company excercises its right to<b> lien </b> on the shares.
8. When a shareholder <b>repudiates the contract </b> to take allotted shares to him on the grounds of Misrepresentation in prospectus or due to irregular allotment.
9. In Case of <b>liquidation of company</b>.
In case of any further discussion , queries will be appreciated.
Best Regards,
<br />Can any one still reply for this question?[D]
as i also took that exam but failed[(!]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Company Ordinance 1984 does not specifically mention those circumstances under which membership is terminated, however,it may be appraised after going through some of the sections related to membership, and as per common practise , the following cases may result in a termination of mambership,
1. When a member <b>transfers</b> his shares and execute a transfer deed in favour of transferee.
2. When shares are validly <b>surrender</b>
3. In case of <b>transmission of shares </b> in favour of legal heirs, due to reasons specified.
4. In case of <b>redemption of preference shares</b>, if authorised by Memorandum and Articles.
5. When a member distributes his holding as a <b>gift</b> with a duly executed transfer deed.
6. When the name of any person is <b>removed from the register </b> of members.
7. When a company excercises its right to<b> lien </b> on the shares.
8. When a shareholder <b>repudiates the contract </b> to take allotted shares to him on the grounds of Misrepresentation in prospectus or due to irregular allotment.
9. In Case of <b>liquidation of company</b>.
In case of any further discussion , queries will be appreciated.
Best Regards,
