Public Safety And Foster Positive Youth - 1454 Words

INTRODUCTION In today’s society, the purpose of the juvenile justice system is to â€Å"attend to public safety and foster positive youth outcomes that are fair and equitable† (Juvenile Justice System, 2015). With that being said, as a group, we believe there can be necessary changes that can improve the system. We believe in the same approach of the juvenile justice system. The changes we would like to make are minor but are more effective for our youth. Our system is called From Flaws to Perfection because most youths have small flaws that can easily be fixed with the right help from the justice system. Our system started back in August 2013 but will not be available to our youth and parents until January 2016. We will introduce how our†¦show more content†¦To be qualified for employment in our system you have to at least a Bachelors degree with the corresponding job that you would like to apply. The flow chart of authority starts from dean, supervisor, manag er, and counselor. They are other positions available as well. The equipment and other miscellaneous things have been donated from companies all around our community, so we have been able to stay within our budget and open up other locations. FLAWS The purpose of writing this paper is to inform readers on juvenile delinquents and their abilities to make good decisions. Currently the age to sentence a minor to adult prison is 18 years of age. The current age to purchase alcohol is 21, The idea that a man turns into a full grown-up at age 21 goes back hundreds of years in English regular law; 21 was the age at which a man could, in addition to other things, vote and turn into a knight. Since a man was an official grown-up at age 21, it appeared well that they could drink then, as well. As stated earlier a man was considered an adult at age 21, so when we look at the juvenile justice system a juvenile is anyone under the age of 18. Under most laws, young people are recognized as adults at age 18. However, emerging science about brain development suggests that most people do not reach full maturity until the age 21. Why charge a minor as an adult at the age of 18 when they

The Computer Industry - 1068 Words

Based on these numbers one can assume that consumer demand was initially exceeded by Windows 95. However, Microsoft headed by Bill Gates was not satisfied and they had experienced success and they wanted a lot more of it. One man, also in the computer industry, had some say in this pursuit of ultimate success. This man, Steve Jobs, was the mastermind of the computer giant Apple. Both had no intention of giving in and losing the industry race. Many people picked their side of the battle by choosing what computer they enjoyed more and were unbelievably loyal to that side throughout the generations. Loyalty ran so deep people started to trash talk about the other side like Vic Sussman, an American newspaper and radio journalist. She†¦show more content†¦Evaluating this twenty year change is one of the tougher things to do, because this time was jam-packed with many upsides but just as many downsides. The general public of Windows users has responded well to this total m akeover of Microsoft Windows. A select few may say they strongly disliked the new and improved Windows, probably Apple backers, but that does not speak for the majority of the public. This new operating system dramatically changed the productivity of Windows. It was a positive change in productivity that allows for optimal use of the computer at all time. The new features added to Windows 10 have made the Windows experience more enjoyable. The Microsoft Windows users really enjoy the new feature of applications. It makes the it feel as if you are using a phone instead of computer. Were all of these new features worth it? This is a major question that I m sure Bill Gates asks himself everyday. The cost to make all of these necessary changes was sky-high, more than likely forcing the cost line above the revenue line for Microsoft. Windows 10 has been downloaded on 67 million computers, which is is significantly higher than Windows 95’s 7 million. However, the number of computers worldwide has gone sky-rocketed, so that 67 million is a relatively low number. When one examines the change in its entirety, you will find that the cons of the change significantly outweigh the pros. Meaning that if

Audit for Business Academy Review - myassignmenthelp.com

Question: Discuss about theAudit for Business Academy Review. Answer: Background information The athletic department manages their deposits to business office and then reconcile all the revenues from the sales of the tickets and all these activities are managed by the office manager only. The company make their deposits on monthly basis and generally it includes more than $ 2,000 under checks and the receipts related to credit cards. Purpose of the audit Generally, the check and cash receipts are most of the time subject to the misappropriation if proper control is not followed. Further, as the checks include the bank information and name best practice must be maintained for the purpose of reconciliation. The cash audit will be carried out to ensure that the cash has been properly named and categorized at the time of preparing the financial statement[1]. Further, it will assure that the cash balances and the cash deposits are reconciled properly with regard to the dates that are reported under the financial statement. The audit will further assist in verifying and obtaining mathematical accuracy of the cash related transactions through tracing the opening as well as the closing balances. Moreover, the audit will assist in recognizing the errors related to deposits, withdrawals, overstatement or understatement of cash[2]. To assure that the records reveal the expenses and receipts of cash mentioned in the balance sheet, the auditor sh all analyse the cash disbursement and receipts for the specific period prior to the financial statement. Scope of the audit The scope of cash receipt audit was to identify the receipt of cash operation procedure and the associated records of the organization. The audit will be carried out as per the Auditing standards issued by the Comptroller general and government of the country and will include various tests related to the records and will include such other procedures of auditing as the auditor will feel necessary under the circumstances[3]. To fulfil the requirement of audit, the auditors will examine the cash related records of the department and the activities during the year of 2016. Full detail of managements plan, procedures and policies will be obtained by the auditor. Moreover, the auditor will scrutinize the internal control procedure with regard to the operations related to receipt of cash and recording of the revenues. As the office manage is solely answerable for all the cash related deposits and revenue from the sales of receipts, he will be asked to provide all the required details of au dit[4]. Further, the branch offices will be visited to confirm the daily collection, deposits, handling and recording of cash related transactions. Statement of condition Various loopholes were recognized regarding the cash receipts, deposits and reconciliation of the revenues. It was found that the office manager alone is solely responsible for the preparation of transmittals of deposits to business office and reconciliation of revenue received for sale of event tickets[5]. Further, the deposits are made on monthly basis and generally include receipt from credit card and more than $ 2000 in checks. Another issue was that the events are generally reconciled in two months period which is considered as quite a long time for the purpose of reconciliation. Finally, the major issue found was that the received monies are kept in the office managers desk keeping it in the manila envelopes till it is deposited in the bank. Moreover, during audit the auditor found shortage of cash amounted to $ 1,000. Conclusion and recommendation From the above discussion it is concluded that various issues are there with the company with regard to receipt, deposits and reconciliation of cash and revenue that may lead to fraud, misstatement or embezzlement of cash. Looking into the circumstances, the following measures are recommended Segregation of duties as the office manager is solely responsible for al the cash related transactions, there is a high chance of misstatement, whether intentionally or unintentionally. Separating the duties among 3 -4 employees will make it difficult to conceal the fraudulent transactions. Access all the employees responsible for the cash transactions shall be provided with proper training before handling the cash. The process shall be documented in writing and must be handed over to the employees before assigning the job. Documentation when the payment will be received, the responsible person shall record it immediately in the cash receipt register along with the details like date, amount and payer. The transaction number shall be unique and shall be matched at the time of reconciliation Reconciliation the reconciliation process shall be carried out at least twice in a month instead of delaying it for two months as with times the discrepancies may disappear and make it difficult to identify. References Agostino, Frank, Jairo G. Cano, and Matthew Turtoro. "How to Report Cash Receipts and Payments."J. Tax Prac. Proc.16 (2014): 21. Henderson, Jason Dean. "Financial Statement (2015)."Proceedings of the Oklahoma Academy of Science. Vol. 95. 2016. LaShaw, Margie Ness, Tara Lambert, and David Sloan. "Implementing Faith in Accounting: Application in a Student Auditing Project Through Service to the University."Christian Business Academy Review11.1 (2016). Nazri, M. F., et al. "Misconducts in Record Keeping for Cash Businesses: Malaysian Evidence on Game-Playing Issues on Audit Estimates between Tax Representatives and the Tax Office."2nd International Congress on Interdisciplinary Behavior and Social Science, ICIBSoS 2013. Taylor and Francis-Balkema, 2014. Solieri, Steven A., and Joan Hodowanitz. "Electronic Audit Confirmations: Leveraging Technology to Reduce the Risk of Fraud."Journal of Forensic Investigative Accounting8.1 (2016).

Jennifer Lopez Essays - Selena, Jennifer Lopez, Notaries

Jennifer Lopez Jennifer Lopez was born in the Bronx, New York on July 20, 1970. She is the daughter of a computer specialist Kindergarten teacher. Lopez always knew se wanted to be a performer. She started her showbiz career by appearing in the chorus of dancer, singer and choreographer Hinton Battle's Synchrocinicity musical in Japan. Jennifer Lopez got her shot at acting in Connie Kaiserman's My Little Girl where she perform a little part as Myra. She was selected as one of choreographer Rosie Perez's fly girls after she won a national competition of about 2,000 contestants. Lopez whose hip-hop dance numbers commanded a loyal audience in Fox's in living color, parlayed her new visibility into roles on various T.V series and movies. In Living Colors was the first step for Lopez. Lopez was still living in New York and had to move to L.A. Lopez followed the shows producer Keenan Ivory Wayans "You'll have more money and more experience" advise to stick with the show. While she was shaking her booty during commercial on Living Color, one of her co-workers whose husband was writing and producing South Central for Fox suggested her for a part. Lopez was seen as a recurring character here. The show was practically over before it started. Melinda Lopez character which Lopez portrayed in CBS second chance co-starring Connie Selleca and Megan Fallows was so popular that it was continued on Aaron Spelling series Malibu Road. She refused the development deal which was offered by CBS because she wanted a film career. Lopez introduced her talent to top film-makers with the movie Mi Famillia. Following this movie she jumped on Joseph Ruben's Money Train. Although, senator Bob Dole urged Americans to boycott the film and the co-stars Woody Harrison and Wesley Snipes were trashed by critics. Lopez left the train with victory where she got on as "Grace Santiago". Later on Lopez co-starred as Robin Williams latina teacher in the movie Jack. Despite having previously worked in Mi Famillia, Gregory Nava asked Lopez to audition as a part of nationwide search in Selena. No stranger to the pressures of audition the former dancer came in, nailed her mark and won the role. Jennifer Lopez thrust into spot light with her performance in this movie and increased her Hollywood stock considerably. The film succeeded despite some grumbly in the Mexican-American community that Lopez was of Puerto Rican decent. 5'6" Lopez who has a yen for pizzazz from childhood has made a terrific start as star-crossed Selena with donning plenty of sequins and spandex. Selena marked a new beginning for Lopez in more than just career terms. In the wrap party of the movie In San Antonio, Lopez's boyfriend Ojani Noa took the microphone and proposed on the dance floor. The couple married in early 1997. Lopez found out for sure that she had achieved stardom when false rumors of her divorce where printed in mainstream newspapers after only two months of marriage. But, they divorced after a year in fact. Jennifer Lopez ranked 16th on the People Magazine's 1997's 50 most beautiful people list. Lopez ended Jim Carrey's Liar Liar's spring box office sovereignty with her movie Anaconda. She revisited the same genie in the fall where she appeared opposite Sean Penn in Oliver Stones U-Turn.. Lopez beat out a bevy of A-list actresses to land a role in Out of Sight. Lopez who had signed a lucrative deal with Sony music after an intense bidding war will be next seen in Ants.

What Are The Advantages and Disadvantages of Brand Stretching Essays

What Are The Advantages and Disadvantages of Brand Stretching Essays What Are The Advantages and Disadvantages of Brand Stretching Paper What Are The Advantages and Disadvantages of Brand Stretching Paper In addressing the above question it is first important to establish what a brand is and the implications this gives to both existing products and products that may be laundered using existing titles. This essay will examine articles written concerning the stretching of brands and identify which brands have been successful and unsuccessful in this pursuit and why. It will also examine the financial motives for companies to penetrate existing markets using already established new products or services has lead to prosperity or disaster. The American Marketing Association refer to branding as the use of a name, a term, a symbol or a design to identify the goods or services of one seller and to distinguish them from those of the competition (WK4 Lecture). This use of branding is said to create an identity of the product that quickly allows consumers to identify a desired item and also gives a guarantee of quality of the product. Branding is also seen as being mutually beneficial to Manufacturers as protection is offered from competition, it allows maintenance of a premium price, promotion is made more efficient because the brand helps to evoke an image, and it also helps in the introduction of new products with the same brand name (WK4 Lectures). King (1971 p.3/4) writes of the rise of power of manufacturers by branding their products, thus taking control of the market from the wholesalers, by allowing retailers and consumers to more easily identify products they wanted. This process was moved further forward by manufacturers creating direct links with the buying public through the use of advertising. King states that the basic motive for this was to stabilise demand, thus allowing regular large-scale production, free from the whims of the wholesaler. Partly because of this the advertising tended to be based on the idea of reliability and guaranteed quality. (1971 p.3). It was due to such strategies (according to King) that the manufacturers dominated the market from about 1900 to 1960. However since the 1960s the market has turned a full cycle, returning control to the retailers (although maybe not so much to the wholesalers). This is illustrated by Caulkin (1987) who states that over the last two or three decades there has been a massive shift in the balance of power form manufacturing towards the retail end of the economy (p.46). This Caulkin states, is particularly notable in food and fast moving consumers goods. Large supermarkets such as Tescos, Asda and Sainsbury started to implement own-label goods which over time sharply reduced the manufacturers share of the market within only a few exceptions (such as baked beans and pet food) (Caulkin 1987). In an attempt to combat what is discussed above many manufacturers are returning to what was described in an article in the Economist 10/90 as an old standby of marketing; brand-stretching (p.105). This based on the principle of using an existing established brand name to help the launch of new products into the market. However, the potential for this sort of practice is said not to be unlimited. Peter Philips of CPC International commented in the Economist article If you get brand-stretching right , you can travel further for less money. If your get it wrong, you risk weakening the core values of the original product (10/90 p.105). Although it is important to note that stretched brands have a better chance of survival than new brands, OC and C found that, of products launched by the same multinational six years ago, only about 30% of new brands exist today while over 50% of stretched ones do (10/90 p.105). With statistics such as these, one can see that it indeed may be advantageous to a company to exploit its name in the promotion of new products and when expanding into new markets. The Economist article stresses the popularity of brand-stretching in the areas of food and drink. Advantages may also be sought when one considers the point made above that the cost of promoting new products with already established brand names, which is said to be considerably cheaper. The Economist article (10/90) points out that promotional costs for stretched brands are in fact 36% cheaper when compared to completely new products. This is presumable due to the public already having an awareness of the brand name, so the only real cost incurred is raising awareness of the existence of the product itself. The use of a brand name also implies assurance of quality (King 1971). It may further be considered that the use of a brand name on its own may persuade people to try new products, such as the Mars Ice Cream Bar. This may be considered in particular when one looks at the larger supermarket chains such as Sainsburys. Over the last two decades Sainsburys have produced own brands to compete with nearly every product that they stock. Due to the image conveyed by Sainsburys that implies (or in fact, guarantees) quality, it has been possible for them to penetrate nearly all areas of the food market successfully. This success may be attributed to the analysis of what a product is as defined by Nickels (1978). Nickels sees a product as an intangible sense of value that a consumer perceives when he or she weighs the benefits and drawbacks of making an exchange. It may therefore be viewed that the success of Sainsburys is mainly due to the consumer seeing little difference in quality between branded goods and Sainsburys own label goods, with Sainsburys holding th e advantage when price is considered. This point is reiterated by Caulkin (1987), who states that growing public perception that the best own-brands are no longer cheap alternatives to the real thing, but comparable in quality as well as price with the main manufacturers lines. The phenomenon of brand-stretching has not been unique to the manufacturing and retail sectors, but has in fact been used by those in the sector of public service. Nickels cites areas, such public libraries that have sought the advantages of brand-stretching. He refers to increased success of libraries that reconsidered what to offer by viewing the service they provide from the perspective of the public. This has resulted in a marked change of service in some American libraries which now provide services such as the loaning of domestics pets, childrens toys and the provision of music rooms and access to such things as a printing press, (1978 p.195). Nickels continues to state that the product of a library today may be anything that will satisfy the needs of selected market segments Libraries are much more successful today because they have designed their products to fit the needs of people (1978 p.196). It can therefore be seen that brand-stretching can be of great advantage when a n eed or area of market penetration is correctly recognised. However, when a company seeks the advantages of brand stretching, they must take great care to ensure that they get it right. The Economist article (10/90) points out that brands are not endlessly elastic. Stretching can also undermine the credibility of the original product. Consumers may not believe that the new product shares any of the cachet or characteristics of the old, or they may simply forget what was attractive about the original item, (10/90 p.105). However, when one considers this comment, it may well be true to say that not all stretched brands will be successful, but that does not seem to generally render original brands obsolete. If one is to consider the failure of David Hunter, (a stretch by Levis), it does not seem to of had an adverse effect on Levis. The problem seems to have aroused simply due to the manner that the stretched brand was marketed, i.e. those who bought classic tailored clothes would not buy them form Levis and not vice versa. It seems more simply, that it was inappropriate for Levis to have used their name to penetrate this particular market. This story seems to be reiterated by Van Den Burghs and Jargons low calorie salad dressing that failed using the name of flora. This, however does not seem to have harmed flora margarine in its place of market leader. It should be noted though that it is felt by many in the field of marketing that a failed product could cause disastrous effects for established products. Prof. Birger Wernerfelt of the MIT Sloan School of Management stated in the Economist article that Umbrella branding means putting up the reputation of the old product as a bond for the quality of the new one (10/90 p. 105). However in the field of well established brands, stretching by own-brand manufacturers has not been so successful. Items such as baked beans are said to have made little headway and that Heinz still hold half the share of the market. The same is said to also apply to pet foods, with Mars Pedigree Pet Foods not having been toppled form their No 1 spot (1987 p.47). A further point that has been made concerning brand stretching as a disadvantageous pursuit was made by Messrs Al Ries and Jack Trout (Citied in the Economist 10/90 p.106). In their book Bottom Up Marketing they argue that by companies widening their products, (even those who have been successful) they have hurt their brand equity. This they attribute to the nature of communication in Western Society being so large that they feel that, you are lucky if your brand can mean one thing. Almost never can it mean two or three things, (10/90 p.106). Thus confusing consumers of an established image of original brands. From the above discussion it can be seen that brand-stretching can be a good way of penetrating new markets. by good use of an established brand name considerable savings can be made in the field of promotion, as there is already an existence of brand awareness so promotion can more easily be centred around the product itself, with the added bonus that consumers may feel more inclined to give an initial trail of products displaying brand names they already know, ( such as the Mars Ice Cream Bar). This too is now the case with established own-brand labels, such as Sainsburys which offer marginally cheaper prices of products now perceived to be of equal quality to that of established brands. However inappropriate stretches, or those which do not offer good quality products have a danger of undermining the credibility of already established brands. Although from the research this sort of practice on the whole seems to lead to failure of the stretched brand, generally leaving the origina l in tact.

The Writers Voice in Literature and Rhetoric

The Writers Voice in Literature and Rhetoric In rhetoric and literary studies, voice is the distinctive style or manner of expression of an author or narrator.  As discussed below, voice is one of the most elusive yet important qualities in a piece of writing.   Voice is usually the key element in effective writing, says teacher and journalist Donald Murray. It is  what attracts the reader and communicates  to the reader. It is that element that gives the illusion of speech.  Murray continues: Voice carries the writers intensity and glues together the information that the reader needs to know. It is the music in writing that makes the meaning clear (Expecting the Unexpected: Teaching Myselfand Othersto Read and Write, 1989). EtymologyFrom the Latin, call The Music of a Writers Voice Voice is the sum of all strategies used by the author to create the illusion that the writer is speaking directly to the reader from the page. (Don Fry, quoted by Roy P. Clark, Writing Tools. Little, Brown, 2006) Voice is the most popular metaphor for writing style, but an equally suggestive one may be delivery or presentation, as it includes body language, facial expression, stance, and other qualities that set speakers apart from one another. (Ben Yagoda, The Sound on the Page. HarperCollins, 2004) If one means by style the voice, the irreducible and always recognizable and alive thing, then of course style is really everything. (Mary McCarthy, Writers at Work: The Paris Review Interviews, Second Series. 1977) Voice and Speech I think voice is one of the main forces that draws us into texts. We often give other explanations for what we like (clarity, style, energy, sublimity, reach, even truth), but I think its often one sort of voice or another. One way of saying this is that voice seems to overcome writing or textuality. That is, speech seems to come to us as listener; the speaker seems to do the work of getting the meaning into our heads. In the case of writing, on the other hand, its as though we as reader have [to] go to the text and do the work of extracting the meaning. And speech seems to give us more sense of contact with the author. (Peter Elbow, Everyone Can Write: Essays Toward a Hopeful Theory of Writing and Teaching. Oxford University Press, 2000) Multiple Voices The personality I am expressing in this written sentence is not the same as the one I orally express to my three-year-old who at this moment is bent on climbing onto my typewriter. For each of these two situations, I choose a different voice, a different mask, in order to accomplish what I want accomplished. (Walker Gibson, The Limits of Language. Hill and Wang, 1966) Just as you dress differently on different occasions, as a writer you assume different voices in different situations. If youre writing an essay about a personal experience, you may work hard to create a strong personal voice in your essay. . . . If youre writing a report or essay exam, you will adopt a more formal, public tone. Whatever the situation, the choice you make as you write and revise . . . will determine how readers interpret and respond to your presence. (Lisa Ede, Work in Progress: A Guide to Writing and Revising. St. Martins Press, 1989) Tone and Voice If voice is the writers personality that a reader hears in a text, then tone might be described as the writers attitude in a text. The tone of a text might be emotional (angry, enthusiastic, melancholy), measured (such as in an essay in which the author wants to seem reasonable on a controversial topic), or objective or neutral (as in a scientific report). . . . In writing, tone is created through word choice, sentence structure, imagery, and similar devices that convey to a reader the writers attitude. Voice, in writing, by contrast, is like the sound of your spoken voice: deep, high-pitched, nasal. It is the quality that makes your voice distinctly your own, no matter what tone you might take. In some ways, tone and voice overlap, but voice is a more fundamental characteristic of a writer, whereas tone changes upon the subject and the writers feelings about it. (Robert P. Yagelski,  Writing: Ten Core Concepts. Cengage, 2015) Grammar and Voice ​If, as we believe, grammar is linked to voice, students need to be thinking about grammar far earlier in the writing process. We cannot teach grammar in lasting ways if we teach it as a way to fix students writing, especially writing they view as already complete. Students need to construct knowledge of grammar by practicing it as part of what it means to write, particularly in how it helps create a voice that engages the reader on the page. (Mary Ehrenworth and Vicki Vinton, The Power of Grammar: Unconventional Approaches to the Conventions of Language. Heinemann, 2005) The Elusive Entity of Voice One of the most mysterious of writing’s immaterial properties is what people call voice. . . . Prose can show many virtues, including originality, without having a voice. It may avoid clichà ©, radiate conviction, be grammatically so clean that your grandmother could eat off it. But none of this has anything to do with this elusive entity the voice. There are probably all kinds of literary sins that prevent a piece of writing from having a voice, but there seems to be no guaranteed technique for creating one. Grammatical correctness doesn’t insure it. Calculated incorrectness doesn’t, either. Ingenuity, wit, sarcasm, euphony, frequent outbreaks of the first-person singular- any of these can enliven prose without giving it a voice. (Louis Menand, Bad Comma. The New Yorker, June 28, 2004)

Company law 2006 - An analysis Essay Example | Topics and Well Written Essays - 3000 words

Company law 2006 - An analysis - Essay Example By eliminating the loss in the profit & loss account through reduction of share capital, company can declare dividends. Even when a company is trading profitably, the accumulated loss in its profit & loss account obstruct a company’s ability to declare dividends. A public company’s Articles of Association should have a provision for the reduction of share capital prior to seeking consent from shareholders for a reduction of capital. In case, if the Articles of Association of a company does not contain a restriction for the reduction of capital, then it may be altered by passing a special resolution in the member’s meeting. Under the CA 2006, a measure of creditor’s protection is offered by the express need that the solvency statement should cover all the details of liabilities of the company. In opposition to the court sanctioned procedures, the creditors do not have any privilege to object to a diminution of share capital. The statement of solvency should take into account all the contingency and prospective liabilities. If the company is having a shareholder’s agreement or availed bank finance, then consent from these stakeholders is necessary for reduction in share capital. ... n if it involves either the payment of paid-up capital to any shareholder or a diminution of shareholder liability as regards to unpaid capital unless the court deems that creditor should not be able to oppose or should be capable to oppose in a wider ambit as per section 645. In Russell v Northern Bank Development Corporation Ltd4 , it was held by the House of Lords that a company will be binding by an agreement by members that they will not encourage a shareholder’s resolution to vary its capital whereas it may not be binding itself, not to employ its authority bestowed on it by statue to vary its share capital. In British and American Trustee and Finance Corpn Ltd v Couper, the court was of the opinion that in case of reduction of capital, if objection is raised, the court will consider whether correct procedure was followed, whether creditors’ interests are not impacted and whether the scheme is equitable and fair between the parties footing upon the background of e ach cases5. The same view was also affirmed in the case Prudential Assurance Co Ltd v Chatterley –Whitfield Collieries Ltd6. In Re Saltdean Estate Co Ltd7 , it was held that if precedence is offered to the various classes as per the terms of issue, no separate class meetings are to be held to approve a reduction of capital. In the above, there was an opposition for a reduction of capital which was to be enforced by repaying the preferred shares. The reduction of preferred shares was approved by the court and it was opined by the court, that no variation of rights of preferred shareholders was there and there is no necessity to get the approval by a separate class meeting. The above view was also confirmed in House of Fraser Plc v ACGE Investments Ltd8. However, if the Articles of Association of the