Section 176 Of Companies Act 1965 Essay Example for Free

Section 176 Of Companies Act 1965 Essay In Malaysia companies Act 1965 (CA), is one of the vital statutes which govern and regulate the formation and operation of a company. All the sections in this statute govern each and every part of company governance. In this case section 176 of Companies Act plays a very important role on arrangements and reconstruction of a company when the company heavily burdened with debt. Financial crisis is the most dangerous and a serious disadvantage for a company, in such situations companies normally will use this provision to escape and avoid liabilities against their creditors. This section allows the company to make arrangement and reconstruction where they can negotiate with the other parties such as creditors regarding the debt they owe. Section 176(5) of CA, must be read together with section 176 (3) of CA, where this section stress that the order made under subsection (3) is not valid until a copy of the said order is given to the registrar and only after the order is lodged, the said order will carry a binding effect from the date of the order lodgment. On the other hand, if the court find is reasonable than the court may determine any earlier date as specified in the order. This section basically talks about the date and effectiveness of the notice which been agreed by members and creditors as per subsection (3) of this provision.1 According to subsection (6), a copy of the order which made under subsection (3), must be put together or annexed with every single copy of the company’s memorandum which is issued after the order made under subsection (3).2 In the event where the company does not have a memorandum, than the order should be annexed to all instruments constituting or defining the constitution of the company. This is generally to give knowledge to a third party about the agreement between the company and the members or creditors. In this case the court may and have power to determine the period of time where the company shall comply to subsection (6). This can be seen in subsection (7) of the same provision.3 Any company fail to follow subsection (6) will be guilty of an offence against subsection (9) of the same provision where penalty of RM 2,000.00 will be imposed.4 Section 176 (10) of CA, govern the power of court to restrain proceedings.5 Here in this subsection, when there is no resolution or arrangement is made by members and creditors with company, the court have power to restrain further  proceedings in any action against the company. There are certain things the company has to do once the company obtains such order from the court. First, the company shall lodge a copy to Suruhanjaya Syarikat Malaysia (SSM). Second, the company should publish the obtained order in newspapers so that all the members and creditors of the company can know about the restrain order. Subsection (10A) says that the court may grant the restrain order for a period of not more than 90 days but there are four situations where the courts can extent the period of the restrain order for good reason. Firstly, the court must be satisfied that there is a proposal for compromise or arrangement between the company and the creditors and the creditor who representing this must hold one half of the value of all creditors which is basically 50 percent. Secondly, the court must feel that the restraining order is important for the company and the creditors to make arrangements or scheme of compromise for the approval of the creditors. Thirdly, a statement in the prescribed form must be made before three days before of the application of the order. Fourthly, the court must approve a nominated person among the creditors to act as a director of the company. These four things must be satisfied by the court for the court to give extension of time for the restrain order.6 In the case of PECD Bhd Anor v. Merino-ODD Sdn Bhd Ors the court held that, for the court to grant the extension of time more than 90 days, the company should and must follow the entire four things which stated in subsection (10A) of section 176.7 About the good reasons, Justice Vincent Ng have stated that the word good reason in section 176(10A) of CA, refers to the applicants’ bona fide intention and action to make arrangement or scheme of compromise in the case of Metroplex Bhd Ors V Morgan Stanley Emerging Markets Inc.8 Section 176 on the CA is actually a sealed but not a sword. The intention of section 176 CA is actually to help companies which face some serious financial problems and debts to the creditors. This provision is must be used by the companies to prevent bankruptcy and as a chance to settle the debts to the creditors. However, some companies may misuse this section for their own enjoyment or benefit which was not and never the intention of parliament for enacting this provision. When companies start to misuse this provision, the objective of this provision is misinterpretated. This  misinterpretation can be said as one of the reason for financial crisis in 1997. Some companies may use these provisions to cheat the creditors of the company; in this case the improper usage of this section may lead to injustice to creditors. As a conclusion, section 176 of CA is very important provision which should be interpreted as per the original intention of the enactment. This provision is very helpful for the companies in financial difficulties and it will provide room for the companies to run their business and gain profit to overcome the debts. This provision also does not violate the rights of the creditors where by using this provision the company cannot escape the debt but only can obtain some time extension to repay it. This section must be used in a good manner so that the company and also the creditors do not held in injustice.

The Role of Women in Antigone :: Literary Analysis, Sophocles

One of the conflicts in Antigone, is the struggle between men and women. Ismene tells Antigone that since birth, women â€Å"were not born to contend with men,† (75) displaying women’s obedience and passivity. In the same passage, Ismene says: â€Å"we’re underlings, ruled by stronger hands,† (76) a representation of men’s aggressive and â€Å"stronger hands† that dominate women and treats them as second-class citizens. The only woman in Thebes who desires to break free from these chains is Antigone, who stands up against Ismene’s passivity urging her to â€Å"submit to this,† (77) and defy Creon by burying Polynices. By breaking Creon’s edict, Antigone challenges the traditional gender roles women and men play. In what ways does the theme of gender in Antigone, demonstrate the passion and choices behind Antigone and Ismene’s decisions? Ismene believes that women are â€Å"underlings† (76) and not â€Å"contend[ing] with men† (76) because she knows that men will always control society. This viewpoint of men’s domination of women depicts Ismene to be submissive to males while being fearful of men’s authority. Ismene is unable to have control over her destiny and decisions because she is fearful of men’s power over women, which leads to her refusing to bury Polynices. Later in the play, Ismene questions Creon’s judgment by saying â€Å"you’d kill your own son’s bride?† (641) which indicates that she is now aware that woman should have a voice and power in society. Her new understanding of Antigone’s message gives her the strength to query Creon, while additionally highlighting his cruelty. Ismene’s original belief of â€Å"submit[ing] to this† (77) and being a proper Greek girl, eventually transforms into becoming an advocate for An tigone. Her transformation defies men’s authority, the opposite of what she used to believe in. Antigone believes that a woman should be intrepid and strong, even at the risk of challenging men’s authority. When she proposes to bury Polynices, Ismene answers, â€Å"we’re not born to contend with men†. (75) Antigone’s response, â€Å"that death will be a glory† (86), does not directly address gender issues, but it expresses her fury at Ismene’s passivity. After the burial of Polynices, Antigone defiantly states, â€Å"I did it. I don’t deny a thing,† while being interrogated by Creon (492) and later comments that she was â€Å"not ashamed for a moment, not to honor my brother†. (572-3) Antigone’s gallant speech and defiance toward traditional gender identities audaciously shows her revolutionary desire for gender equality.

A Rhetorical Piece of Literature Essay

Judith Ortiz Cofer’s piece entitled ‘The Myth of the Latin Woman: I Just Met a Girl Named Maria’ is a rhetorical essay that exemplifies the art of persuasion through the use of ethos, pathos, and logos that mainstream the three types of rhetorical proof. Her piece describes the life of a Puerto Rican girl who was forced to carry the culture and the customs of the Spanish, Catholic world up to the more sophisticated Western world. This appears to be a heavy burden—not only to Puerto Ricans or Latinas who end up transferring to another society and culture—but also to other races and ethnicities that can be rated as third class in the culture of the West. Race and culture can have its own prejudices (The New Georgia Encyclopedia 2006), and this presents the theme of Cofer’s ‘The Myth of the Latin Woman’. Main Body In representing rhetorical piece, Cofer uses ethos, pathos, and logos†¦ as well as the angle of vision and the inclusion of opposing views of other cultures. Ethos dictates â€Å"how the character and credibility of a speaker influence an audience to consider him (or her) to be believable† (Wikipedia 2007). This is readily seen on how Cofer mentions about her being a graduate student (203); her coming from a modest, educated, and respectable Latin family (205, 207); her friends who, despite being Hispanic, are actually medical graduates, professionals, and â€Å"feminist Hispanic scholars† (206). This also includes the portion wherein Cofer dictates how her ‘Chikana’ friend has had her doctor shake his head when she uses ‘big words’ (207). All these give the reader the impression that what the writer says is accurate and credible all because of the high standing that builds a good reputation on the writer. Pathos, on the other hand, is â€Å"the use of emotional appeals to alter the audience’s judgment† (Wikipedia 2007). This is readily seen on how Cofer uses amplification on many parts of the story, such as the following: first, the Irish man’s use of ‘Maria’ based on ‘The West Side Story’ (203); second is her storytelling of how her family’s life was in an urban center in New Jersey back in the ‘60s (204); third is her experience as a Latin highschool girl in America when they were instructed â€Å"to come dressed as if for a job interview† (204), and how they were described to be â€Å"the negative models by the nuns† (204), with their teachers and classmates looking at them distastefully (205); fourth is when she mentions how Hispanic women are usually abused by their ‘boss men’ (205); fifth is how the words ‘sizzling’ and ‘smoldering’ are used to pertain—not just the food of Latin America—but the women as well (205); sixth, how Latin girls are supposed to ‘ripen’ and not just to grow into womanhood (205); seventh, her narration on how a man of high standing sang to her ‘Evita’ (206). And, lastly, how she was mistaken to be the waitress instead of the main writer during her first public poetry reading (207). All these things give strong emotional appeals that make the persuasion more insisting and more resolute. Logos, on the other hand, pertains to â€Å"the use of reasoning, either inductive or deductive, to construct an argument† (Wikipedia 2007). In Cofer’s piece, this is seen on how she uses inductive reasoning in stating her experience and historical examples that, in turn, can be described as factual and logical (e. g. , what a Hispanic culture is, why Latin girls wear everything at once). This is also seen on how she uses deductive reasoning, especially in the use of generally accepted propositions about the Hispanic women—that they are â€Å"Hot Tamale or sexual firebrand† (Cofer 2005); second, deductive reasoning is also used in stating that Hispanic women feel free to express themselves through clothes and ornaments and be more provocative, since they are â€Å"more protected by the traditions, mores, and laws of a Spanish/Catholic system of morality and machismo† (205); third, that tropical women show off their skin to keep cool and, at the same time, appear sexy (205); fourth and final, the myth that Latina women are actually whores, domestic, or criminal (207). The logic of the argument centers on the theme that the writer acts that way because she was born that way. She was only practicing what was taught to her by her world and her culture. Conclusion Cofer’s angle of vision goes straight into defending the true nature of the Hispan ic women. She uses three main strategies in her piece ‘The Myth of the Latin Woman’: first is the use of character and credibility in giving an accurate and credible argument to her readers; second is the use of emotional appeals through amplification and storytelling that make persuasion more insisting; third is the use of inductive and deductive reasoning through generally accepted propositions and logic. There is also the inclusion of opposing views of other cultures, especially those that cover the Western cultures that see ‘too much’ as a despicable, revolting factor (Cofer 204). Cofer’s angle is one that represents the side of the Hispanic culture. In defense of her race and her ethnicity, Cofer demands some understanding that not everything that appears to be remains to be, and that not everyone who appears to be one†¦ remains to be one. Works Cited Cofer, Judith Ortiz. The Myth of the Latin Woman: I Just Met a Girl Named Maria. Spring 2007. Heather D. Harris Homepage, Northern Arizona University. 24 September http://nau.edu/

Coordinate Adjectives Definition and Examples

Coordinate adjectives are a series of two or more adjectives that independently modify a noun and are roughly equal in importance. In contrast to cumulative adjectives, coordinate adjectives can be joined by and, and the order of the adjectives can be reversed. Likewise, coordinate adjectives (unlike cumulative adjectives)  are traditionally separated by commas. Note, however, Amy Einsohns observation in The Copyeditors Handbook  (2006): The convention of placing a comma between  coordinate adjectives  seems to be fading, perhaps as part of the trend toward open punctuation, perhaps because the absence of this comma rarely confuses readers, or perhaps because the distinction between coordinate and noncoordinate adjectives is sometimes hard to apply. Examples and Observations The air was thick and wet. A warm, dense fog had settled over the paddies and there was the stillness that precedes rain.(Tim OBrien, The Things They Carried. Esquire, 1987)The popular girls were the  blonde, blue-eyed  wealthy ones who lived on the beach and had suntans.(Linda Mintle,  A Daughters Journey Home. Thomas Nelson, 2004)Out in the hall she heard a single  loud, insistent  voice, but as she reached the head of the stairs it ceased and an outer door banged.(F. Scott Fitzgerald, The Cut-Glass Bowl. Scribners Magazine, May 1920)Timmy was no cute, dumb boy.  He was a  clever, conniving  businessman.(Grant Michaels, Dead as a Doornail. St. Martins Press, 1998)This patch of tall, knobby housing,  with its spindly porches and narrow cemented passageways between the house walls through which people passed into their back yards, gave a hivelike impression of intense and contented population. Farther in the same direction as these houses there was Second Street, wh ere  in solid small brick rows lived the sexy girls, the buoyant, sassy, handsome daughters of factory workers and skilled tradesmen.(John Updike,  Self-Consciousness, 1989)Testing for Coordinate AdjectivesThere are two tests for determining whether a pair of adjectives is coordinate. A pair of adjectives is coordinate if (1) one can place and between the adjectives, or (2) one can reverse the order of the adjectives and still have a sensible phrase. The phrase a long restful vacation passes both tests (a long and restful vacation; a restful, long vacation), and therefore these adjectives are coordinate. But a long summer vacation fails both tests (X a long and summer vacation; X a summer long vacation), and therefore these adjectives are not coordinate.(Amy Einsohn,  The Copyeditors Handbook: A Guide for Book Publishing and Corporate Communications, 2nd ed. University of California Press, 2006)Punctuating a Series of Adjectives: Coordinate vs. CumulativeMultiple adjectives mo difying the same noun or pronoun are considered either coordinate or cumulative;  if coordinate, each adjective could modify the noun separately, so commas are used, as in any series: The overripe, bursting, odiferous mangoes seeped onto the countertop. Notice that the arrangement of these adjectives has no particular order or rationale; each modifier might appear elsewhere in the series and and could be placed between them: The bursting and odiferous and overripe mangoes seeped onto the countertop.Cumulative adjectives, on the other hand, are not equivalent to a punctuated series  because the first adjective in the group is not individually modifying the noun but is instead modifying the noun-modifier combination that follows. For example, in the phrase obsolete desktop computer, obsolete modifies desktop computer and desktop modifies computer.These adjectives cannot appear in a different order (the desktop obsolete computer), nor can they be connected with and (the desktop and obsolete computer).(Gary Lutz and Diane Stevenson,  The Writers Digest Grammar Desk Reference. Writers Digest Books, 2005)