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

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

Continuing guarantees – negotiable instrument, Continuing Guarantees – Nego...

Continuing Guarantees – Negotiable Instrument A continuing guarantee is such type of a guarantee that extends to a series of transactions, so and such is not exhausted through

Explain ihl prohibitions, Important to observe that IHL prohibitions It...

Important to observe that IHL prohibitions It is important to  observe that  IHL prohibitions should be identified and followed as  their violations/breach may be considered as

Summary of the international humanitarian laws, Summary of the internationa...

Summary of the international humanitarian laws The main objectives/summary of the international humanitarian laws can be divided into a few parts which are as follows: D

What is a contract?, QUESTION The Web has made it extremely attractive ...

QUESTION The Web has made it extremely attractive to conduct commercial activities online. Companies such as Amazon.com and eBay are e-commerce powerhouses that sell all sorts

Relationship between banker and customer, Relationship between Banker and C...

Relationship between Banker and Customer Therefore the relationship between a banker and the customer is a debtor-creditor association that was articulated In the chief case o

How to explain the apparent lack of expressions, How to explain the apparen...

How to explain the apparent lack of expressions There are several ways to explain the apparent lack of expressions of the impacts. In fact, there are arguments that political

Explain about the inflationary bias, Inflationary Bias Another potentia...

Inflationary Bias Another potential problem with the coordination of monetary policy is that it can worsen the inflationary bias within each country. If the costs associated wi

Explain international law on sir creek issue, Explain International law on ...

Explain International law on sir creek issue The issue concerning Sir Creek is of great importance for both India and Pakistan. The dispute does not concern the division betwee

Article 33 - pacific settlement of disputes, Article 33 - Pacific settlemen...

Article 33 - Pacific settlement of disputes Article 33 the meaning of Negotiation is the same as in domestic law. It is a preferred mode and third party intervention is not nee

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