CTM60120 - Close companies: tests: entitled to acquire or secure
CTA2010/S454(2) (formerly ICTA88/S417 (1))
The words 바카라 사이트˜entitled to acquire바카라 사이트™ and 바카라 사이트˜entitled to secure바카라 사이트™ introduce the concept of a potential participator. So, for example, a person is a participator if, by means of a contractual right or by rights arising under a trust deed, they can:
- require a shareholder to transfer shares to that person,
or
- secure the issue to that person of unissued capital of the company, or
- secure that if the company makes a distribution or if a loan is redeemed by the company at a premium, that person has a share in the distribution or the premium.
Similarly, a person is a participator if by means of a contractual right or some other arrangement he can secure that income or assets of the company will be applied directly or indirectly for his benefit.
References to being 바카라 사이트˜entitled to acquire바카라 사이트™ or 바카라 사이트˜entitled to secure바카라 사이트™ apply where a person is presently entitled to acquire, etc, at a future date and where a person will at a future date be entitled to acquire, etc.