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

Fiduciary duties - company management, Fiduciary Duties: The fiduciary...

Fiduciary Duties: The fiduciary duties of directors arising from their fiduciary relation to the company have been the subject of consideration in an enormous body of case law

Differences between cheques and other bills of exchange, Differences Betwee...

Differences Between Cheques And Other Bills of Exchange However the following are some of such the differences between like cheques and such other bills of exchange: like;

Types of capital, Types of Capital: A company's capital at any given m...

Types of Capital: A company's capital at any given moment may consist of: a)      NOMINAL OR AUTHORISED CAPITAL This is the capital that is stated in the memorandum of a

State the two alternatives of policy clustering, State the two alternatives...

State the two alternatives of Policy Clustering That combines an element from each of these first two alternatives. One might think of it as a set of processes characterized by

Deadlock in the management, Deadlock in the management: The company ex...

Deadlock in the management: The company existed only to "work a particular patent" and as it could not do so it should be wound up. But if there are two or more alternative

Requirements of registration of hire purchase agreements, Requirements of R...

Requirements of Registration of Hire Purchase Agreements Each Hire purchase Agreement must will in the English language It have be delivered to registration with

Explain the nuclear law, Explain the Nuclear law Nuclear law Nucle...

Explain the Nuclear law Nuclear law Nuclear Law is a branch of International Law that surrounds, regulates and administers issues regarding nuclear weapons. It is also ass

Legislative or parliamentary control, LEGISLATIVE OR PARLIAMENTARY CONTROL:...

LEGISLATIVE OR PARLIAMENTARY CONTROL: (i)         Parliamentary approval and (ii)        Ministerial approval and (iii)       Publication into the England Gazette and

Show the suggested actions to address phoenix activity, Q. Show the Suggest...

Q. Show the Suggested actions to address phoenix activity? There have been a range of options identified by previous works on phoenix activity, such as the Cole Inquiry and Tre

Analyse ethical and legal issues , Fran is a 68 year old female patient wit...

Fran is a 68 year old female patient with a history of diabetes.  Fran separated from her husband, Derek, 3 years ago (although they are not divorced) and over the past few years t

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