Examples of ROC Company Law in a sentence
Pursuant to the R.O.C. Company Law, capital surplus arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit.
Legal reserve WorldReginfo - 28edfbc0-13ea-4297-8e53-ca640de4d81dAccording to the amended ROC Company Law, which was published in January 2012, a company shall first set aside 10 percent of its net income as legal reserve.
In accordance with the ROC Company Law, capital surplus can only be used exclusively to offset a deficit and increase capital.
Pursuant to the R.O.C. Company Law, capital reserve arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit.
In addition, the transferred capital surplus from issuance of shares or other events in accordance with Article 8 of the ROC Securities and Exchange Law and the ROC Company Law can be credited to capital upon the condition that the aforementioned capital surplus has been approved by and registered with the competent authority in the previous year.
When the shares are mature, the Company shall repurchase the shares at the issue price in compliance with R.O.C. Company Law.
The Audit Committee shall consist of all independent directors.The Audit Committee or the members of Audit Committee in the preceding paragraph shall be responsible for those responsibilities of Supervisors specified under the ROC Company Law, Securities and Exchange Law and other relevant regulations.Article 14-2 Each director shall be given at least 7 days advance notice of the convening of a board of directors meeting of the Company.
Capital Surplus Under the ROC Company Law, capital surplus from paid-in capital in excess of par value and treasury stock transactions may be transferred to capital, subject to a specified percentage of paid-in capital.
Any special reserve appropriated may be reversed to the extent of the decrease in the net debit balance.According to the ROC Company Law, legal reserve shall be appropriated until it has reached the Company’s paid-in capital.
The ROC Company Law stipulates that the Company must retain 10% of its annual earnings, as defined in the Law, until such retention equals the amount of authorized share capital.