Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time

"The Court of Appeal has declared that the formation of the respondent company and the agreement to take over the business of the appellant were a scheme "contrary to the true intent and meaning of the Companies Act". I know of no means of ascertaining what is the intent and meaning of the Companies Act except by examining its provisions and finding what regulations it has imposed as a condition of trading with limited liability .... we have to interpret the law, not make it." Salomon v Salomon & Co Ltd, per Herschell, LJ. Thus the starting point of the court in this seminal case (which has been followed ever since in regard to corporate personality) was to interpret the law as they found it in the Act - if the formalities had been complied with a separate judicial person came into being: 2 "The Company is at law a different person altogether from the subscribers to the memorandum; and, although it may be that after incorporation the business is precisely the same as before, and the same persons are managers, and the same hands receive the profits company is not in law the agent of the subscribers or trustee for them"

RIO Country Report 2017: Cyprus

The R&I Observatory country report 2017 provides a brief analysis of the R&I system covering the economic context, main actors, funding trends & human resources, policies to address R&I challenges, and R&I in national and regional smart specialisation strategies. Data is from Eurostat, unless otherwise referenced and is correct as at January 2018. Data used from other international sources is also correct to that date. The report provides a state-of-play and analysis of the national level R&I system and it's challenges, to support the European Semester.JRC.B.7-Knowledge for Finance, Innovation and Growt

Prenatal maternal effects appear to be insensitive to experimental or natural environmental variation:Environmental effects on egg traits

In many birds, hatching asynchrony is a common phenomenon, primarily driven by patterns of incubation behaviour. However, experimental results in blue tits (Cyanistes caeruleus) have shown that asynchrony is reduced by intrinsic properties of later eggs that accelerate prenatal development. These intrinsic differences between early and late eggs could be driven by changes in resource availability to females, which are then passively passed onto the egg. Alternatively, it may be due to an anticipatory maternal effect, wherein some signal or resource is actively placed within the egg, which is beneficial to those eggs laid late within the clutch. In order to distinguish between these hypotheses we designed a supplementary feeding experiment, wherein females were provided with food at certain times during the laying phase. This had no discernible effect on development rate, or other egg characteristics, consistent with anticipatory maternal effects. Using a larger dataset we also tested whether natural environmental variation (weather) during egg formation affected maternal investment in eggs. Similarly, egg characteristics were found to be relatively insensitive to the environmental variation, supporting the experimental results.</p

Remotely sensed wind speed predicts soaring behaviour in a wide-ranging pelagic seabird

Global wind patterns affect flight strategies in many birds, including pelagic seabirds, many of which use wind-powered soaring to reduce energy costs during at-sea foraging trips and migration. Such long-distance movement patterns are underpinned by local interactions between wind conditions and flight behaviour, but these fine-scale relationships are far less well understood. Here we show that remotely sensed ocean wind speed and direction are highly significant predictors of soaring behaviour in a migratory pelagic seabird, the Manx shearwater (Puffinus puffinus). We used high-frequency GPS tracking data (10 Hz) and statistical behaviour state classification to identify two energetic modes in at-sea flight, corresponding to flap-like and soar-like flight. We show that soaring is significantly more likely to occur in tailwinds and crosswinds above a wind speed threshold of around 8 m s−1, suggesting that these conditions enable birds to reduce metabolic costs by preferentially soaring over flapping. Our results suggest a behavioural mechanism by which wind conditions may shape foraging and migration ecology in pelagic seabirds, and thus indicate that shifts in wind patterns driven by climate change could impact this and other species. They also emphasize the emerging potential of high-frequency GPS biologgers to provide detailed quantitative insights into fine-scale flight behaviour in free-living animals

A whole-island census of the Manx Shearwaters Puffinus puffinus breeding on Skomer Island in 2011.

Skomer Island, Pembrokeshire, Wales is believed to have one of the largest colonies of Manx Shearwaters Puffinus puffinus in the World. In 1998 a census was made of the whole island, and the adjacent islands of Skokholm and Middleholm, in order to try to establish the size of the breeding population; the Skomer population was estimated to be just over 101,000 breeding pairs. A second census was carried out in 2011. First, a set of study burrows was opened and a tape of the male call (normally only males respond to these) was played down each burrow several times during the course of incubation in order to establish the male response rate. Then the same tape was played down all the burrows in each of 288 randomly selected plots across the island and the number of responses recorded. Extrapolating responses from census plots to the whole island yielded an estimate of 125,112 (CI ± 16,445) responses. Adjusting this figure to take account of the response rate yielded an estimate of 316,070 (SE ± 41,767) breeding pairs. This figure is greatly in excess of the estimate made just 13 years earlier. Possible reasons for this are discussed

Within-pair similarity in migration route and female winter foraging effort predict pair breeding performance in a monogamous seabird

In long-lived monogamous animals, pair bond strength and durability are usually associated with higher fitness. However, whether pairs maximise fitness during the non-breeding season by maintaining contact during the winter or, instead, prioritise individual condition is unclear. Using geolocators recording spatial (light) and behavioural (immersion) data, we tracked pairs of the long-term monogamous Atlantic puffin Fratercula arctica during the non-breeding season to determine whether and how migratory strategies were related to future pair breeding performance and whether within-pair similarity in migratory movements or individual behaviour best predicted future fitness. While pair members migrated separately, their routes were similar in the first part of the non-breeding season but diverged later on; nonetheless, pairs showed synchrony in their return to the breeding colony in spring. Pairs following more similar routes bred earlier and had a higher breeding success the following spring. However, female (but not male) winter foraging effort was also a strong predictor of subsequent fitness, being associated with future timing of breeding and reproductive success. Overall, females had higher daily energy expenditure than males, especially in the late winter when their route diverged from their partner's and they foraged more than males. Our study reveals that female winter foraging, probably linked to pre-breeding condition, may be more critical for fitness than maintaining the pair bond outside of the breeding season. However, even without contact between mates, pairs can benefit from following similar migration routes and synchronise their returns, but the mechanisms linking these processes remain unclear

A recipe for postfledging survival in great tits Parus major: be large and be early (but not too much)

Survival of juveniles during the postfledging period can be markedly low, which may have major consequences on avian population dynamics. Knowing which factors operating during the nesting phase affect postfledging survival is crucial to understand avian breeding strategies. We aimed to obtain a robust set of predictors of postfledging local survival using the great tit (Parus major) as a model species. We used mark–recapture models to analyze the effect of hatching date, temperatures experienced during the nestling period, fledging size and body mass on first-year postfledging survival probability of great tit juveniles. We used data from 5192 nestlings of first clutches ringed between 1993 and 2010. Mean first-year postfledging survival probability was 15.2%, and it was lower for smaller individuals, as well as for those born in either very early or late broods. Our results stress the importance of choosing an optimum hatching period, and raising large chicks to increase first-year local survival probability in the studied population.Secretaría de Estado de Investigación, Desarrollo e Innovación (Grant/Award Number: ‘CGL2013-48001-C2-1-P’)Peer reviewe

Sea buckthorn berries <i>Hippophae rhamnoides</i> L. predict size and composition of a great tit population <i>Parus major</i> L.

In seasonal environments variation in food abundance in the non-breeding season is thought to affect songbird population dynamics. In a unique tit-sea buckthorn berry system we can estimate the berry abundance and both the tit consumption and population dynamics. Six hundred nest boxes were available to great and blue tits Cyanistes caeruleus for breeding in spring and roosting in winter. We followed the dynamics including the recapture histories of individually marked great tits from 2008 to 2014. In each year we estimated 1) the winter sea buckthorn berry availability, 2) an index of berry consumption in December based on the colour of the faeces of roosting birds, 3) the number of breeding great and blue tits, 4) both recapture probability and the return rate of the great tits and 5) immigration rates. December berry abundance positively predicted the number of breeding pairs of both species in the subsequent season and great tit return rates in the second half of the winter. There was support for a sex specific berry effect on the adult return rate in the great tit: female return rate was associated less strongly to berry abundance than male return rate. This skewed the sex ratio of the local breeders in the following breeding season. Intriguingly, annual berry consumption in December was not related to berry abundance, and individuals consuming more berries tended to have slightly lower return rates. Reproductive rate was not related to berry abundance. There was hardly support for a relation between immigration rates of first year breeders and berry abundance. Taken together these results imply that berry stock not only affected population size but also the population composition through sex specific exchange with the surroundings. Since population density covaried with berry abundance, density dependent effects provide an alternative explanation for the patterns observed

Tail colour signals performance in blue tit nestlings

Indirect sexual selection arises when reproductive individuals choose their mates based on heritable ornaments that are genetically correlated to fitness. Evidence for genetic associations between ornamental colouration and fitness remains scarce. In this study, we investigate the quantitative genetic relationship between different aspects of tail structural colouration (brightness, hue and UV chroma) and performance (cell-mediated immunity, body mass and wing length) in blue tit (Cyanistes caeruleus) nestlings. In line with previous studies, we find low heritability for structural colouration and moderate heritability for performance measures. Multivariate animal models show positive genetic correlations between the three measures of performance, indicating quantitative genetic variation for overall performance, and tail brightness and UV chroma, two genetically independent colour measures, are genetically correlated with performance (positively and negatively, respectively). Our results suggest that mate choice based on independent aspects of tail colouration can have fitness payoffs in blue tits and provide support for the indirect benefits hypothesis. However, low heritability of tail structural colouration implies that indirect sexual selection on mate choice for this ornament will be a weak evolutionary force.Peer reviewe