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

Contingent and prospective liabilities of the company, Contingent and prosp...

Contingent and prospective liabilities of the company: A creditor who petitions on grounds of the company's insolvency may rely on any of the following situations to show (as

What is the unclos 1982, The UNCLOS 1982 The UNCLOS 1982 does not stop ...

The UNCLOS 1982 The UNCLOS 1982 does not stop at gauging the limits of the territory of coastal states. Other features of the Convention include the right of transit of landloc

Determine the levels of policy perspective, Determine the levels of Policy ...

Determine the levels of Policy perspective Policy perspective, analysis can be made on three levels, state-system level, the nation-state level and the decision making level. T

Find the murderer, Your first big case is a multiple murder. As defense att...

Your first big case is a multiple murder. As defense attorney for SyKopath, you have come to the realization that he really did break into a couple's home and torture and kill them

Illustrate the private bill of members, Illustrate the private bill of memb...

Illustrate the private bill of members? Private members’ Bill: It is where some MP’s are specified the chance (through ballot) to introduce a Bill on something which is o

Explain recognition of states pertains, Explain Recognition of States perta...

Explain Recognition of States pertains Recognition of States pertains to whether a state exists or not, meaning thereby, the participants of global community should recognize t

What is meant by ratio decidendi, Question: (a) Explian the various sta...

Question: (a) Explian the various stages that a Bill must go through before it becomes enforceable as a Law in Mauritius. (c) Mr. Vijay is the tenant of a house situated at

Publication of bills , Publication of Bills in the England Gazette: Su...

Publication of Bills in the England Gazette: Such there order 98 which offers that no Bill shall be intract unless it has been published in the Gazette and a certain time of f

Companys objects, Companys objects: A company's objects are stated pur...

Companys objects: A company's objects are stated pursuant to the provisions of an Act of Parliament. It must therefore be deduced, for example, that a company whose object has

What are the main areas of case law, What are the main areas of case law? ...

What are the main areas of case law? Case law: There are two main areas, as follows: • Common law: It is an amalgamation of past cases that are used to make decision

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