Joint Stock Company form of business organization has become extremely popular as it provides a solution to (2) overcome the limitations of partnership business. The Multinational companies like Coca-Cola and‚ General Motors have their investors and customers spread throughout the world. The giant Indian Companies may include the names like Reliance‚ Talco Bajaj Auto‚ Infosys Technologies‚ Hindustan Lever Ltd.‚ Ranbaxy Laboratories Ltd.‚ and Larsen and Tubro etc. 1.2 MEANING OF COMPANY Section
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If they are to conduct the Smallco Graphics business through a company‚ a very significant of the advantages will be the separate legal entity‚ which means that from the view of the law‚ a company is treated as a separate person. Hence‚ the debts of the company will be limited to the amount remaining unpaid on the members’ shares. This is also called “limited liability” of the members. Apart from the limited liability‚ a company has a perpetual succession‚ meaning that it is a continuing entity
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Limited(the directors are same in both of the companies according to the article of Y Limited) with the breach of pre-incorporation. After the incorporation of association company comes in existence‚ and starts its business after that. Before incorporation company have no legal existence‚ and if enters into an agreement in the name of company before incorporation‚ the agreement would not be valid. The corporate personality with separate legal identity of company confirms about the limited liability of
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LAWS OF KENYA BANKRUPTCY ACT CHAPTER 53 Revised Edition 2012 [2010] Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org [Rev. 2012] Bankruptcy CAP. 53 CHAPTER 53 BANKRUPTCY ACT ARRANGEMENT OF SECTIONS PART I – PRELIMINARY Section 1. 2. Short title. Interpretation. PART II – PROCEEDINGS FROM ACT OF BANKRUPTCY TO DISCHARGE Acts of Bankruptcy 3. 4. Acts of bankruptcy. Bankruptcy notices. Receiving
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TO THE ARBITRATION & CONCILIATION ACT‚ 1996 A CONSULTATION PAPER MINISTRY OF LAW AND JUSTICE GOVERNMENT OF INDIA PROPOSED AMENDMENTS TO THE ARBITRATION & CONCILIATION ACT‚ 1996 A CONSULTATION PAPER MINISTRY OF LAW AND JUSTICE GOVERNMENT OF INDIA Contents S.No. Title 1 Page No. Amendments to the Arbitration & Conciliation Act‚ 1-35 1996- A Consultation Paper 2 Annexure –I 36-54 The Arbitration and Conciliation Act‚ 1996 3 Annexure-II 55-69
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The Patriot Act was signed into law on October 26‚ 2001 by President George Bush. USA Patriot Act is actually an acronym for Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism. Since it has passed‚ it has been one of the leading roles in preventing many terrorist attacks that are planned to hurt innocent civilians. Its goals were to strengthen the power of law-enforcement agencies and the domestic securities. Not only was it extremely controversial
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issue of a company buying back its shares has moved beyond the realm of abstract discussion among academicians and into the real world of corporate controversies. The endeavour should be to provide one with an overview of the concept of ‘buy-back’ of shares‚ the ensuing debate and some recommendations. Understanding the Concept In law‚ a company being a separate legal personality is capable of buying and holding property in its own name. a corollary to this privilege would be that a company could buy
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REPUBLIC ACT 6939: An Act Creating the Cooperative Development Authority | The Cooperative Development Authority (CDA) is a government agency created by virtue of Republic Act No. 6939 in compliance with the provisions of Section 15‚ Article XII of the Philippine Constitution of 1987 which mandates Congress to create an agency to promote the viability and growth of cooperatives as instruments for equity‚ social justice and economic development. RA 6939 was signed into law on March 10‚ 1990.
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Grant (1877) as ‘one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary steps to accomplish that purpose’. The promoter would be the person who undertakes the formation of a company by carrying out the procedures necessary for incorporation‚ person actually interested in the company or professionals who incorporate a company as part of their business. But under Section 4 The Companies Act 1965 states does not include any person by reason
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relationship between a director and a company‚ the relationship between the promoters and the corporation and the relationship between business partners. In each relationship‚ what kinds of the fiduciary duties should be performed is elaborated in details. The aim of the project is to help the readers to understand what “fiduciary obligations” actually means in Australian law. Fiduciary Duty of Directors According to the general law and the Corporations Act ss181 -184‚ as fiduciaries‚ the directors
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