the companies already exist. The companies which are to be created or incorporated will therefore not be subjected to the Commonwealth law. This narrow interpretation by the High Court denied the Commonwealth the power to make laws over the incorporation and regulation of companies. Section 51 (xx) was also considered to be very restrictive‚ applying only to foreign trading or financial corporation‚ leaving doubt whether it would apply to shelf companies‚ investment companies‚ mining companies
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Business Enterprises 1 NATURE‚ FORM AND TYPES OF BUSINESS ENTERPRISES Business Enterprises (Sole Proprietorship‚ Partnerships & HUF) 2 Corporate (Cos. & Co-operatives) IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha Non-Corporate NATURE‚ FORM AND TYPES OF BUSINESS ENTERPRISES IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha Basic difference between Corporate and NonCorporate form of business organization is that while a non-corporate form of business can be started without
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ACCA (ENG) (F4) Corporate and Business Law Mind Maps © OneStudy Training Limited • • • • • • • • • • • Every chapter is summarised – easy to digest for revision; Ideal to test your knowledge; Colour and shape to stimulate your brain; Produced using MindGenius software. Mind Map Benefits According to MindGenius and Tony Buzan: Gives you an overview of a large subject; Enables you to plan a course of action and make decisions; Gathers and holds large amounts of data and information for you;
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what extent do you agree with such a view? 2. Critically assess the various provisions under the Companies Act 1965 under which the corporate veil may be pierced‚ highlighting their shortcomings‚ if any‚ and suggest improvements to those provisions for greater efficacy. 3. Though the Courts have‚ in a number of situations‚ lifted the veil of corporation to ensure that the grant of the corporate status is not abused‚ more could be done to ensure justice‚ especially to make holding companies
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SAMPLE MULTIPLE CHOICE QUESTIONS QUESTIONS 1-3 Tricky‚ Esthero‚ and Macy decide to go into business together to promote new recording artists of alternative music genres‚ calling the business “Alternative Universe.” Assume for purposes of the following questions only‚ that they have chosen to operate the business as a general partnership‚ and that the partnership is formed in a jurisdiction that has adopted the Uniform Partnership Act (UPA). Tricky invested $1‚000‚ Macy invested $9
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AC 208 – Examiner’s Report (Semester 1 AY 2010 / 11) Question 1(a) Most students are able to identify the issue of breach of duty of care‚ skill and diligence for Hannah as she signs all documents including statements of accounts blindly and is nonchalant and clueless about the business. For Joe‚ many students discussed the issue whether he was entitled to rely on Eva under s157C and concluded that he could not because Eva did not fall within the categories of persons listed in s157C. This
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(8 Marks) b) Explain how the procedures would differ from that for forming a private company limited by shares. (4 Marks) c) Discuss the circumstances under which a corporate veil of incorporation may be lifted. (8 Marks) QUESTION TWO a) Explain the role in Trevor Vs Whiteworth (887) and the exceptions to the rule. (12 Marks) b) Highlight the procedures of reduction of share capital under section 68 of companies act
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corporations are separate legal entities‚ Salomon’s case endowed the company with all the requisite attributes with which to become the powerhouse of capitalism. At a particular level‚ however‚ it was a bad decision. By extending the benefits of incorporation to small private enterprises‚ Salomon’s case has promoted fraud and the evasion of legal obligations. Nonetheless‚ this article will argue that the overall balance is positive. Salomon v Salomon 31. At its most general level‚ the decision of
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and A Separate Peace The rite of passage‚ according to Encarta‚ is an event or act that marks a significant transition in a human life usually referring to adulthood (Online 1). In many Indian tribes‚ ceremonies were held for youths trying to pass a series of tests in order to become an adult‚ many times the tests? involve a display of physical prowess. In Western Civilization reaching a rite of passage into adulthood can occur in many ways. The young adult must achieve an understanding about ones
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Table of Contents Executive Summary Ted’s Corporate Services is the business run by Ted. He is a sole trader. He wants to convert his business from sole trader to company to take the benefit of limited liability and other benefits as well. He wants advice for forming a company which is the most appropriate for him. Proprietary company unlimited by shares capital‚ public company unlimited by shares capital‚ public company limited by guarantee and public company with no liability are the companies
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