Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
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Article 15 of the Articles of Association required a selling member to notify the Board in writing, enabled the Board to act as agent for sale to existing members, and required pricing at an agreed or auditor-certified fair value. Transfers by individual shareholders and a Trust to outsiders without following that procedure disregarded existing shareholders' pre-emptive rights and were treated as void. The same restrictions applied to both categories of shareholders, and acquiescence could not waive the mandatory process. The transfers were set aside, the company was required to rectify its registers and make consequential declarations, and any fresh sale had to comply with Article 15.
Article 15 of the Articles of Association required a selling member to notify the Board in writing, enabled the Board to act as agent for sale to existing members, and required pricing at an agreed or auditor-certified fair value. Transfers by individual shareholders and a Trust to outsiders without following that procedure disregarded existing shareholders' pre-emptive rights and were treated as void. The same restrictions applied to both categories of shareholders, and acquiescence could not waive the mandatory process. The transfers were set aside, the company was required to rectify its registers and make consequential declarations, and any fresh sale had to comply with Article 15.
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