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

Decision making regarding treatment vs non-treatment, In relation to the ...

In relation to the scenario below, discuss relevant ethical and legal issues that relate to decision making regarding treatment vs non-treatment.   Please note , you are

The westminster model constitutions and some leading cases, QUESTION 1 ...

QUESTION 1 Court control of how executive power is exercised is what administrative law is all about. Who are the persons under scrutiny in this area of the law? In what manner

Define the sources of international law 2, SOURCES OF INTERNATIONAL LAW ...

SOURCES OF INTERNATIONAL LAW Apart from Treaty and Customs, the Statute of International Court of Justice (ICJ) under its article 38 (1) mentions some other sources of internati

Statutory corporation and chartered corporation, Statutory Corporation a...

Statutory Corporation and Chartered Corporation Statutory Corporation However this is created through an Act of Parliament and comes in existence from the date of c

Case law - statutory provisions, CASE LAW:    The aforesaid statutory ...

CASE LAW:    The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally expl

Sense of urgency-entrepreneurship development, Sense of Urgenc: Entreprene...

Sense of Urgenc: Entrepreneurs have a never-ending sense of urgency to develop their ideas. Inactivity makes them impatient, tense, and uneasy. They thrive on activity and are tir

Information in agenda setting, Information in Agenda Setting What infor...

Information in Agenda Setting What information, how and when reaches to voters to proposal, is also a detrimental factor in policy process. The degree to which information is c

Beneficial service - binding contracts, Beneficial Service - Binding Contra...

Beneficial Service - Binding Contracts According to such, a contract relates service or apprenticeship is such binding on an infant - which mostly provided it is substantially

Business environment, 1.(a) identify and give out the explanation of differ...

1.(a) identify and give out the explanation of different categories of legal system. (b) How is legal system in bznz enforce

International labour conference for double-discussion, The work of the Inte...

The work of the International Labour Organisation in regard to the adoption and implementation of Conventions and Recommendations involves Member States in a number of constitutio

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