21 Jan 1992
LEE CHAI CHEONG AND ANOTHER v. THE PRUDENTIAL ENTERPRISE LIMITED
- Citation
- LEE CHAI CHEONG AND ANOTHER v. THE PRUDENTIAL ENTERPRISE LIMITED
- Court
- Court of Appeal
- Case number
- CACV123/1991
Article 135, read with Article 43, authorises directors to retain dividends payable on shares in respect of which a person is "entitled to become a member" under Article 43; that expression embraces persons whose entitlement is subject to directors' consent, hence directors validly withheld dividends; the hearsay statements admissible under s.47 were uncontradicted and properly weighed, establishing that board resolutions to withhold dividends were made; appeal dismissed.