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C3: Members of Co Part 2 - Coggle Diagram
C3: Members of Co Part 2
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Can there be restriction of issuing shares? Yes, as long as based on discretion of directors
Case: Mohan v Sepang Omnibus Co Ltd (1964)
- directors rejected transfer of shares to Mohan with intent of preserving co's bumiputra status
Case: Kwality Textiles (M) Sdn Bhd (1990)
- directors could reject transfer of shares to prevent possible breach in conditions of co's manufacturing license.
Share certificate
- when someone subscribes/buys shares, co accept & enter his name in ROM
- co will issue SC in his names
- S.98(1) issued within 60 days
- name of co, class of shares, no. of shares
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Member's rights
- receive meeting's resolution online or hardcopy S.302,303
- convene a meeting S.310(b)
- inspect director's service contract S.233(1) & (2)
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- discuss/comment on management S.195(2)
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- receive notice of meetings S.316 (1)
- apply to court in case of oppression S.346
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