§254. Aug 2010. (2) [Repealed, 1991, c. 45, s. 551] Marginal note: Certain Acts do not apply (3) The following do not apply to a corporation: (a) [Repealed, 2009, c. 23, s. 344] 254 Security for costs. BUSINESS CORPORATION ACT Act 284 of 1972 AN ACT to provide for the organization and regulation of corporations; to prescribe their duties, rights, powers, immunities and liabilities; to provide for the authorization of foreign corporations within this state; to prescribe the functions of the administrator of this act; to prescribe penalties for violations of this act; and to repeal ⦠Special Act corporations excepted (9) This section does not apply to a company incorporated by special Act, except that a company incorporated by special Act may apply under this section for the issue of supplementary letters patent changing its ⦠2.2 What are âprofitsâ? L. 97â35, 95 Stat. Book 1 Stock corporation: Part 1 General regulations: Section 1 Nature of the stock corporation: Section 2 Number of founders: Section 3 Merchant status conferred by law. A new test has now replaced the requirement that companies must pay dividends only out of profits. Application. In addition, section 254 T was amended to provide that: A dividend may only be paid out of profits of the company. Skip to primary navigation Skip to primary content Skip to primary content 440) provided that references to the Bank in sections 302 and 303(d)(2d sentence) of the Government Corporation Control Act would be deleted on the day after the Final Government Equity Redemption Date. Stock exchange listing: Section 4 Business name: Section 5 Seat: Section 6 Share capital: Section 7 Minimum nominal amount of the share capital: Section 8 Form and minimum values of shares of stock: Section ⦠An Act for consolidating, with Amendments, enactments relating to Municipal Corporations in England and Wales. The law about when a company can pay a dividend has recently been changed. Section 396(h)(2) and (3) and (i) of the Omnibus Budget Reconciliation Act of 1981 (Pub. corporation includes an assumed name under section 283 of the Act. AR 118/2000 s3;191/2001;251/2001 Similar and identical names 4(1) A corporation or an extra-provincial corporation registered in Alberta may not have a name that is similar to the name of a corporate person unless that person consents in writing to the use of On 27 June 2012, the Commissioner of Taxation (Commissioner) issued Taxation Ruling TR 2012/5 (Ruling) (previously issued as Draft Taxation Ruling TR 2011/D8), dealing with section 254T of the Corporations Act and the assessment and franking of dividends.The Ruling applies with effect from 28 June 2010, when changes to section 254T came into operation. Federal Register of Legislation - Australian Government. A, title X, §1068(d), Jan. 28, 2008, 122 Stat. 326, provided that: "The amendments made by this section [amending this section and sections 334 and 12304 of this title and repealing section 2567 of this title] shall take effect on the date of the enactment of this Act [Jan. 28, 2008]." Marginal note: Application of Act 3 (1) This Act applies to every corporation incorporated and every body corporate continued as a corporation under this Act that has not been discontinued under this Act. Part 20 â General [255 - 275] ... For the purposes of this section, a corporation holding shares in itself as permitted by section 33(1) and is deemed not to have purchased, ... the words âIncorporated under the Business Corporations Actâ, Declaring Dividends â a new test: Changes to section 254T of the Corporations Act 2001. Proclamation to disperse