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Cabinet scraps Mari dividend cap


Cabinet scraps Mari dividend cap
Decision will help fetch better price for 18.4% govt stake in company
ECC decided to continue dividend distribution by Mari Petroleum having a 45% cap on guaranteed return. PHOTO: FILE
ISLAMABAD:
The cabinet on Tuesday approved the removal of cap on dividend distribution by Mari Petroleum Company Limited (MPCL) in a bid to fetch better price for the government of Pakistan shares.
The government plans to divest 18.39% shares in Mari Petroleum and the removal of dividend cap will help get a better price. The approval came during a meeting chaired by Prime Minister Imran Khan.
Earlier, the Economic Coordination Committee (ECC) had approved the removal of cap on dividend distribution by Mari Petroleum. ....

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India-Amendments to CSR Rules: A Game Changer


India-Amendments to CSR Rules: A Game Changer
Tuesday, February 2, 2021
Targeted focus on creating ‘impact’ using CSR funds
Role of International organisations in planning and developing CSR Projects;
Mandatory registration of implementing agencies appointed by the company with Ministry of Corporate Affairs (MCA);
Introduction of Administrative overheads with prescribed 5% cap on such expenses;
Clarity regarding the scope of Corporate Social Responsibility and Role of CSR Committees;
Background 
Corporate Social Responsibility (“
CSR”) was for the first time introduced as a statutory obligation for companies by way of Companies Act 2013 under Section 135. Thereafter, the Companies (Corporate Social Responsibility Policy) Rules were notified on 27 ....

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Australia: New Small Business Insolvency Reforms How Statutory Demands will change from 1 January 2021


Extension of Temporary Statutory Demand Limits
For a company that is eligible for temporary restructuring relief pursuant to the Corporations Amendment Act, and potentially up until 31 July 2021:
the statutory minimum amount for service of a statutory demand will remain at $20,000; and
the statutory period to respond to a statutory demand will remain at 6 months.3
Consequential amendments are made to the form for a statutory demand. 
When is a company eligible for temporary restructuring relief ?
The Corporations Amendment Act and Corporations Amendment Regulations include a concept of a company being eligible for temporary restructuring relief in circumstances where that relief has not been sought by the appointment of a small business restructuring practitioner.4 ....

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