Illegal distributions

Article Abstract:

Under the Companies Act of 1980, dividends distributed to shareholders of British and Scottish corporations cannot be paid out of capital accounts, as this would constitute an unauthorized reduction of capital and an illegal distribution. Dividend distributions and their legality are discussed from the standpoints of common law, Companies Acts of 1980 and 1985, recovering dividends illegally distributed, and the outside auditor's responsibilities when accounting for dividend distributions. Before distributions are made, corporate directors should consider their common law obligation of promoting the company's best interests, should realize that shareholders will only have to repay distributions that they were aware were illegal, and that auditors are not responsible for detecting and stopping illegal distributions.

Laws, regulations and rules, Profit, Accounting and auditing, Profits, Dividends, Scotland, Assets (Accounting), Great Britain

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Straight from the hearth: savor the art of the Irish baker in six wonderful breads

Article Abstract:

Each recipe is a quick bread without yeast, and reflects a different region or era of Irish history, including: treacle farls; tea brack; boxty; broan soda bread; white soda bread; and currant scones.

Recipes and menus, Cooking, Cookery (Bread), Bread, Ireland, Cover Story, Food and nutrition, Scones

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The nanny clause

Article Abstract:

Issues concerning worker's compensation rights are discussed. In particular the necessity of insurance policies for household employees such as nannies and caregivers is examined.

Caregivers, Insurance, Working mothers, Workers

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