Match the positions with the responsibilities

Explain the difference

Public Limited Company - PLC

Factors general partnership limited partnership (LLP)

B.

members registered with signed Partnership Agreement

contributions loans general shared unlimited personal (x2)

limited operation annual extraordinary accounting

formation

needs to have at least two _________

- relationships between

the partners are set out by

the ________________

- must be _________the

Registrar of Companies

- Certificate of Limited

Partnership must be ________

by all partners

raising capital - partners’ capital ____________

- _________ to partnership

management and

control

- depending on the

Partnership Agreement

management and control

may be __________ or

centralised

- management and control

are exercised only

by__________ partners

owner’s liability - partners’ _________

__________ liability for the

obligations and liabilities of

the partnership

- __________ partners have

no personal liability

- general partners have

__________ ____________

liability

other advantages

/ disadvantages

Advantage:

- all terms of ________

are agreed between the

partners only

Advantage:

- board meetings, minutes

books, ________and

__________ general meetings

are not required

Disadvantages:

- ____________

requirements (submitting annual

return, maintaining list of

accounts, etc)

c.

fee (no) personal liability (x2) extensive powers statute

authorized share capital (x2) existing the public constitutional

documents company secretary issuance

factors Private Limited Company – Ltd

formation - filing __________ _____________

- filing statutory forms

- payment of a registration ___________

capital Ltd:

- no minimum

_______________

requirements

- capital is raised

through issuance of shares

to __________ members

PLC:

- minimum

________________

- capital is raised

through _________of

shares to existing

members and / to

_______________

management and

control

- a director, manager and / or ______________carry

out day-to-day management and control

- board of director have _____________

owner’s liability Ltd:

- generally ________

______________

PLC:

- no _____________

________________

other advantages Although operation is regulated by____________,

members can set out their own terms.

1. ordinary share – preference share

2. Memorandum of Association – Articles of Association

3. Memorandum of Association – Articles of Incorporation

4. share capital – loan capital

5. annual general meeting – extraordinary general meeting

6. personal liability – limited liability

7. merger – consolidation

8. private limited company – public limited company

9. hostile takeover – friendly takeover

10. balance sheet – income statement

1. company secretary

2. proxy

3. auditor

4. liquidator

5. managing director / CEO

6. board of directors

- one of the major duties is to maintain and implement corporate policy, as

established by the board

- answerable to shareholders for its decisions

- the leader of the business, serves as the main link between the board of directors

and the company's various parts or levels

- responsible for keeping statutory record books

- may appoint other managers

- responsible for compliance with corporate legislation

- duties include calling meetings

- responsible for recording minutes of the meetings

- has the ultimate decision-making authority

- responsibilities include intellectual property rights

- responsible for proper payment of dividend and interest payments

- responsible for proper drafting and execution of agreements, contracts, and

resolutions

- is empowered to determine and pay the dividend

- is empowered to issue additional shares

- checks the accuracy of the financial records and accounting practices of a

business

- may also be the chairperson of the board

- responsible for financial matters

- oversees the sale of an insolvent firm's assets and the repayment of its debts

- hires major executives

- fires major executives

- is held liable (under the doctrine of collective responsibility) for the

consequences of the firm's policies, actions, and failures to act

- supervises the affairs of a corporation

- elected by the stockholders

- votes on behalf of the principal

- is empowered to adopt bylaws

- establishes general policies for the business

- top executive responsible for a company's overall operations and performance

Дата добавления: 2014-12-27