【Answers】
44 In all cases, the distribution must come from accumulated realised profits, less accumulated realised losses
No distribution may come from the capital redemption reserve Dividends can only be paid by profits available for
distribution. Which include accumulated realised profits less accumulated realised losses. The capital redemption is a
distributable reserve and therefore cannot be used to pay a dividend.
45 Where the subject matter of the agreement is a gratuitous promise Assignment of the benefit of a contract is possible,
unless it is a personal or assignment is barred. Third parties can also enforce contractual obligations if it is clear from the
terms of the contract that is intended. Gratuitous promises are unenforceable in any event, as they are unsupported by
consideration.
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