resolves to authorize the Board of Directors to acquire the maximum number of own shares allowed by law on or outside the stock exchange for a term of five (5) years, counting from the resolution of the general meeting, at a price per share in accordance with the legal provisions, but which can under no circumstances be lower than ten percent (10%) of the lowest closing price of the last twenty … The practical advantages of vessel licences, rather than a licence to catch a certain quantity, are particularly marked when the fishing industry is composed of a large number of separate units - especially skipper-owners - rather than a few big concerns. of immovable property situated in a Contracting State, may be taxed in that Contracting State. Under a combined approach the primary control of fishing mortality would be the catch quota, but a licencing system would be used to limit the capacity of the fleet. 11. Research on parental alienation and the behaviors that cause it has evolved out of decades of legal and clinical work documenting this phenomenon, leading to what could be considered a “greening,” or growth, of the field. If one alternative is to exploit another stock of fish that is underexploited, the choice of licence-holders may be made so as to encourage the diversion of the surplus to that stock. As the fish stocks build up under regulation the right to fish acquires value, which should be reflected in the increasing capital value of a licence. instaurent des procédures adéquates et efficaces pour assurer l'exécution au mieux des ordres passés par ceux-ci. A man operating one ship has less flexibility - there is a certain quantity of fish he can catch (or a certain fishing mortality he can cause) if the ship fishes at full capacity - a bigger catch quota cannot tie used, and a smaller quota means that the ship is working at less than full efficiency - unless good alternative employment is available. Borrowings by SBCI; 14. Share definition: A company's shares are the many equal parts into which its ownership is divided. This two-part article considers the taxation of capital gains deriving from the alienation of shares in immovable property companies. Some restriction upon the alienability of corporate shares of stock is the scheme most often utilized to exclude all except approved shareholders from the stock lists of close corporations. 3. alienation - (law) the voluntary and absolute transfer of title and possession of real property from one person to another; "the power of alienation is an essential ingredient of ownership". The choice between these applicants would then be on a basis of these other factors. remplit quelques exigences, comme être assujettie à un impôt sur les bénéfices etc. perhaps a half to a quarter of the normal working life of a fishing vessel. If licences are held for an unlimited period, and are transferable, then the measures of fishing mortality in which they are expressed have to be carefully chosen. However, few, if any, fisheries are managed on purely economic (or purely biological) grounds. Next . For purposes of the Convention, gains derived by a resident of a Contracting State from the alienation of shares or comparable interests, such as interests in a partnership or trust, may be taxed in the other Contracting State if, at any time during the 365 days preceding the alienation, these shares or comparable interests derived more than 50 per cent of their value directly or indirectly from immovable property situated in that other Contracting State. The theory described in this article explains the mechanisms through which suffering affects an individual's sense of community and connectedness with others. The State of Maine claims a copyright in its codified statutes. toutes ces opérations sont étroitement liées entre elles et ont pour résultat que tous les actifs qui étaient possédés par SMI et utilisés par SIMI sont placés sous le contrôle des associés de MD & D, de sorte qu'ils sont protégés contre la restitution de l'aide d'État accordée illégalement. Traduisez des textes avec la meilleure technologie de traduction automatique au monde, développée par les créateurs de Linguee. The two somewhat conflicting objectives might be achieved by charging properly balanced fees to any new ships, but artificially low fees to existing small vessels. One of the attractions of a system of allocating national quotas is that it does allow countries a wide flexibility in national regulations, provided that they ensure that the national share is not exceeded, e.g. 1-8. proposition exige des entreprises d'investissement qu'elles. The first of these would benefit if licences were temporary - for one or a limited number of years - and issued at a high fee. Click here to read more. to ensure the best execution of those orders. One of the attractions of a system of allocating national quotas is that it does allow countries a wide flexibility in national regulations, provided that they ensure that the national share is not exceeded, e.g. Conversely, limited entry prevents excess capacity, but may not ensure the correct mortality. isolation - a state of separation between persons or groups. In practice social and other factors, other than simple economics, may be taken into consideration when issuing licences. Article 13.1 of the double tax treaty (DTT) signed between Luxembourg and Spain authorizes Spain to tax gains from the alienation of shares in a company whose assets consist principally of immovable property in Spain, with no exceptions for properties engaged in economic activities. de personnes, fiducie ou autre entité, lorsque la valeur des actifs de cette entité est tirée principalement, directement ou indirectement (y compris par l'intermédiaire d'une ou de plusieurs entités interposées, comme par exemple une chaîne de sociétés), de biens immeubles situés dans l'autre État contractant, sont imposables dans cet autre État. Shares... | Meaning, pronunciation, translations and examples Thus, its provisions neither directly restrict the alienation of shares nor clearly provide for the free transfer of shares. Stocks and shares offer flexibility, choice, different levels of risk and can be bought in a variety of ways. This may be done quite explicitly, e.g. Consideration should, however, be widened to cover the effects on other fisheries. conditions like being subject to a similar corporation tax are met. Provided mortality is measured in terns of catch, the choice between different sizes or types of vessels is straightforward - the fishermen operating the most efficient vessels (those that can land fish at the least cost), will be best able to afford a licence. If allocation were done purely on economic criteria, and licence fees were as high as possible - which might be achieved by an auction system for licences - the total licence fees should be about equal to the difference between the value of the catch and the minimum cost of harvesting it (here and elsewhere in this paper costs are understood to include a reasonable return on investment on vessels, etc., as well as running costs, wages, depreciation, etc.). This two-part article considers the taxation of capital gains deriving from the alienation of shares in immovable property companies. Previous . Alienate. Alienation of Shares. It may be that a combination may be more successful; a single quota system achieves the correct fishing mortality, but gives much less promise of preventing the build-up of excessive fishing capacity. 28 September 2011 hi, can any one tell me what do you mean by alienation of shares ? Nous ne devons pas les traiter comme des marchandises ni mener une politique dont la mission principale consiste à acheter des biens fonciers, In the case of repeated failure to perform marking from a natural or legal person, the competent authority shall, prohibit the natural or legal person from, through the investment firm for an appropriate, En cas de manquement répété à l'obligation de marquage incombant à une personne physique ou morale, l'autorité compétente interdit à la personne physique ou. Notwithstanding the provisions of Article 13, gains derived by a resident of a Contracting State that is. Dans le cadre du programme, les BCN de la. 5 January 2017 . While this procedure makes regulation more complex, with two separate processes - setting licence fees to control the fishing capacity, and setting a catch quota to control fishing mortality, this may not be too inconvenient. A limitation, or the need for limitation implies that there is surplus capacity, in money, or ships, etc., that can be used elsewhere - not necessarily in fishing. a partnership, trust or other entity, where the value of the assets of such entity is derived principally, whether directly or indirectly (including through one or more interposed entities, such as, for example, through a chain of companies), from real property situated in the other Contracting State, may be taxed in that other State. If the number of licences is controlled, or more strictly, if the number of those applying for a licence is limited, by charging a large licence fee, the relative magnitude of the fees paid by vessels of different types or size has to be carefully decided. 118 b; Cruise Dig. 2. Share capital of SBCI; 12. See Co. Litt. If licences are in terms of vessels, then there will be problems of determining the appropriate fee to operate a 150 ton trawler, if the licence to operate a 100 ton purse-seine vessel costs, say, $10,000. La BCE détient des créances intra-Eurosystème sur les BCN à. Requête la plus fréquente dans le dictionnaire français : Proposer comme traduction pour "alienation of shares". Suffering is a particularly human experience that often brings with it loneliness or alienation from others. It also serves to emphasize the two rather separate objectives of regulation - biological, achieved by the catch quota, and economic, by the licence fee. Also in the transition the net amounts going to the national treasury may be smaller because part or all may be used to give temporary compensation to those fishermen failing to get licences or to resettle them in alternative employment. We aim to take the mystique and jargon out of investing, whilst making you fully aware of all the factors you should consider before taking the plunge. If it is too short, then the uncertainty about future operations may inhibit new developments, especially those requiring big investments; too long, and the fishing may stagnate without the effective pressure of those outside the fishery, with new ideas wishing to use them. All the transfers of the La traduction est fausse ou de mauvaise qualité. Similarly, a licence to catch any specified quantity would lead to over- (or under-) exploitation, if there was a reduction (or increase) in the stock. Maximum amount of State funding to SBCI; 17. There is then no real difference between the long-term and transition period, except that the possible fees will be smaller during the transition period - and probably negligible in the first year - while the stocks are being rebuilt. are met, those for retention and progress in learning are not. shares, but been put off by the apparent complexity of the stock market, by the risks involved, or simply because you don’t know where to start. les objectifs en matière de rétention et de progrès d'apprentissage ne le sont pas. générale décide d'autoriser le conseil d'administration à acquérir en bourse ou hors bourse, pendant un délai de cinq (5) ans à partir de la décision de l'assemblée générale, le nombre maximum légalement autorisé d'actions propres à un prix à l'unité qui respectera les dispositions légales, mais qui ne pourra en aucun cas être inférieur à dix pourcent (10%) du cours de clôture le plus bas des vingt (20) derniers jours de cotation précédant l'opération ni supérieur à dix pourcent (10%) du cours de clôture le plus élevé des vingt (20) jours de cotation précédent l'opération. Alienation is an act whereby one man transfers the property and possession of lands, tenements, or other things, to another. firms to implement adequate and efficient procedures. In addition, the structure of government debt is considered, focusing in particular on, De plus, la structure de la dette publique est analysée sous l'angle, notamment, de la proportion et de l'évolution tant de la dette à court terme que de cell, Under the programme, the euro area NCBs, according to. We have found evidence of increasingly frequent frustration, lead to war to defend one theory or another about the best way to govern, each proclaiming that, conduit souvent à une lutte pour défendre une théor. durant une période proportionnée et dissuasive. The tine of determining licence - holders also needs some consideration. Look it up now! Taxation of capital gains from alienation of Shares. Social or other considerations can easily be taken into account in setting licence fees. [...] enterprise, especially shares which in consequence of war laws have been alienated or forcibly taken from the person entitled thereto, must be returned to the former owner upon a claim to that end within one year after the ratification of the Peace Treaty by deducting any profit that may have accrued to him as a result of the said alienation or subtraction, [...] ou indirectement, en biens immobiliers situés dans un État contractant sont imposables dans cet État contractant. These authorizations may also by used for. Alienations may be made by deed; by matter of record; and by devise. The converse is, however, not true. PL 2001, c. 640, §B1 (RP). Cet exemple ne correspond à la traduction ci-dessus. As a result, legal experts have adopted divergent approaches to this issue. Some follow the language of the law and hold that shareholders of a closed joint stock … In addition, the law stipulates no other limitations related to the sale of shares in a closed joint stock company. 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