Registered companies, Business Law and Ethics

Assignment Help:

Registered Companies:

A registered company is formed by registration under the Companies Act. It is this type of company that people usually have in mind when they talk of "a company". The notes that follow are concerned exclusively with "registered companies". It should be noted that s.2 of the Companies Act defines a company as "a company formed and registered under this Act."

Classification of registered companies Registered companies are classified by s.4(1) of the Companies Act into:

                   (a) A company formed by "any seven or more persons". Like a company is    known in common parlance as a public company.

                   (b) A company formed by "any two or more persons". Like a company is referred to in the Act as "a private company".

A private company or a public company are like:

(i) Limited by shares if the liability of its members is limited by its memorandum to the   amount, if any, unpaid on the shares respectively held by them.

(ii) Limited by guarantee  whether the liability of its members is limited by its memorandum to an amount which the members have undertaken to contribute to the assets of the company in the event of its being wound up.

(iii)    Unlimited whether it does not have any limit on the liability of its members.


Related Discussions:- Registered companies

Employment relations act, QUESTION 1 Evaluate the circumstances under w...

QUESTION 1 Evaluate the circumstances under which an employer would be justified in terminating his worker's contract of employment under the Employment Rights Act QUESTION

What is the aim of the reviewing authority, QUESTION 1 Outline the hist...

QUESTION 1 Outline the history of Labour Laws in Mauritius QUESTION 2 a) In what circumstances can an employer raise the defence of abandonment of work? b) Section 1

Briefly outline the role of the state in employee relations, Question 1: ...

Question 1: (a) Briefly outline the role of the State in Employee Relations. (b) Write short notes on any three of the following: (i) The Ministry of Labour and Industrial

Identify the ethical issues, Mr. Gomez a former managing partner of the Gra...

Mr. Gomez a former managing partner of the Grant Thornton accounting firm, is currently serving first half of a 12- year prison term. In 1986, 39 year old Gomez pleaded guilty t

Describe the four-step planning process, Question 1: One important caus...

Question 1: One important cause of ineffective public relations efforts is the lack of planning. Using evidence from any organization, describe the four-step planning process t

Business entity, Sole proprietorship, partnership and company

Sole proprietorship, partnership and company

Rights of guarantor against creditor, Rights of Guarantor Against Creditor ...

Rights of Guarantor Against Creditor Consequently the rights of the guarantor are: like (a) Further at any time after that the guaranteed debt such has become due and such prev

Change the law and move to comparative negligence, 1. Maryland is one of a ...

1. Maryland is one of a few states in which contributory negligence is a complete defense, barring the plaintiff from any recovery. What is contributory negligence? How does it com

What was the immunity from jurisdiction, WHAT WAS THE IMMUNITY FROM JURISD...

WHAT WAS THE IMMUNITY FROM JURISDICTION   States are recognized as having authority over people, things and events within their own territory and therefore may exercise jurisdict

Exceptions - authority of partners, Exceptions - Authority of Partners ...

Exceptions - Authority of Partners The rule stated is a general rule, such there are a few exceptions for it.  Hence the chief of these exceptions are as follow: like; (a)

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd