Companies Act Chapter 81:01:- "No association‚ society‚ body or other group consisting of more than ten persons may be formed for the purpose of carrying on any trade or business for gain unless it is— (a) incorporated under this Act; (b) Formed under some other written law; or (c) A partnership" According to the Companies Act Chapter 81:01‚ a “shareholder”‚ in relation to a company‚ means a person described in section 107(1); which states that a shareholder is: (a) a person who is a member
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Abbreviations 1. AAIFR - Appellate Authority for Industrial and Financial Reconstruction 2. BIFR- Board for Industrial and Financial Reconstruction 3. CLB – Company Law Board 4. NCLT – National Company Law Tribunal 5. NCALT – National Company Law Appellate Tribunal 6. SICA - Sick Industrial Companies (Special Provisions) Act‚ 1985 Table of Cases 1. RDF Power Projects Ltd v. M. Muralikrishna‚ (2005) 124 Comp Cas 184 (AP) 2. Union of India v. R. Gandhi‚ President
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Achem Pte Ltd (Achem) was in the business of trading in industrial chemicals. The company was founded by Heng and Tan. Both were directors and shareholders of the company. Other than Heng and Tan‚ the other shareholders include Heng’s and Tan’s relatives and some of these relatives were also employees of Achem. Employee turnover was low and every employee was treated as part of one big family. After several years‚ Tan decided to sell his 55% stake in Achem to Union Pte Ltd (Union) because he
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GCSE GEOGRAPHY EXAM REVISION GUIDE 2005 THE EXAM PAPER The paper lasts for 2 hours and 15 minutes and carries 50% of your marks. There are 2 sections: A. PLACES – 1. The European Union‚ including the UK 2. Less Economically Developed Countries 3. More Economically Developed Countries‚ outside EU B. THEMES – 1. Physical Systems and Environments 2. Natural Hazards and People 3. Economic Systems and Development
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COURSE ACCT5150: BUSINESS AND COMPANY LAW (For 2014-2015) COURSE OUTLINE Course Title: ACCT5150 Business and Company Law Description: This course seeks to provide an introduction to the institutions‚ doctrines and methodology of the law in the business and corporation context. The first part of the course will begin with an examination of the legal system of the Hong Kong SAR before proceeding to encompass a selection of topics in business law such as the law relating to contract‚ torts and
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QUESTION 1 a. Define a promoter of a company. Explain and illustrate with decided cases his legal position in relation to a company. Though the certificate of incorporation is conclusive for purposes of incorporation‚ using decided cases‚ outline circumstances under which it could be withdrawn.(10marks) ANSWER Definition; A promoter is one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary step to accomplish that purpose - A promoter
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the company is successfully registered‚ it becomes a separate legal entity which is different from its directors‚ owners‚ and shareholders. The company could have its own right and asset‚ and also property. Meanwhile‚ the money and resources of the company could only be used for business purpose. Even the directors can’t use the company’s asset for private uses. (Guides to obligations of proprietary limited companies 2012). According to the case‚ the four people want to establish a company which
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Company Case Notes Cisco Systems: Solving Business Problems Through Collaboration Synopsis Cisco sells stuff to end-user consumers like you and me. It makes Linksys wireless routers that are in many homes. It also makes the trendy Flip video cameras. However‚ most of what Cisco sells is never seen by regular folks. Cisco is a tried and true business-to-business company. This case brings out the type of product that Cisco sells to businesses. But more importantly‚ it highlights the fact that Cisco
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ACW 204/3 COMPANY LAW AND SECRETERIAL PRACTICES SEMESTER 1 ACADEMIC SESSION 2012/2013 LECTURER: DR. HAZRIL IZWAR IBRAHIM PREPARED BY: NAME MATRIC NO. CHEE HUI JUN 114071 GOH XIAO YUING 111912 KOK JE SEN 111919 LEE CHIA YEE 111921 TOH SHER LYNN 111987 YEOH LI YEN 111996 1. “Incorporation is the bedrock upon which Company Law is built.” Incorporation means the process of legally declaring a corporate entity as separate entity from its owners. Incorporation
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study of company law I. Sarah’s business act and Richforth Ltd. constitution A company is a legal entity that is separate and distinct from its members and shareholders. When a company is legally formed‚ it has become ‘incorporated’ (Wild and Weinstein‚ 2009). As a legal person‚ a company must act in compliance with existing laws and in accordance with the terms of its constitution. Section 33 (1) of the CA 2006 provides: “The provisions of a company’s constitution bind the company and its
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