Public limited company

Corporation

Образец выполнения упр. 4

Образец выполнения упр.3

Образец выполнения упр.2

Образцы выполнения упражнений

Грамматический материал

1. Сложные формы инфинитива (Passive Infinitive; Perfect Infinitive).

Инфинитивные обороты: Объектный инфинитивный оборот (Complex Object); Субъектный инфинитивный оборот (Complex Subject).

2. Причастия (Participle I,II).Независимый (самостоятельный) причастный оборот.

3. Условные предложения.

Объектный инфинитивный оборот (Complex Object); Субъектный инфинитивный оборот (Complex Subject).

1. Russia is known to possess rich mineral resources. (Complex Subject)

Известно, что Россия владеет богатыми минеральными ресурсами.

2. We want the new car to be produced by February. (Complex Object)

Мы хотим, чтобы новый автомобиль был выпущен к февралю.

Причастия (Participle I,II).Независимый (самостоятельный) причастный оборот.

1. Countries wishing to cooperate with us will always find the necessary understanding.

(Participle I, определение)

Страны, желающие сотрудничать с нами, всегда найдут должное понимание.

2. Having visited Moscow the participants of the conference went to Kiev. (Participle I, Perfect Active, обстоятельство)

Посетив Москву, участники конференции поехали в Киев.

3. New technological processes having been developed, new types equipment have been installed in the shop. (Независимый причастный оборот)

Когда были разработаны новые технологические процессы, в цехе было установлено новое оборудование.

Условные предложения.

1. If this device is installed, the production process will be simplified.

Если этот прибор будет установлен, производственный процесс упростится.

2. If the system had been perfected, we should have applied it for new calculation. Если бы система была усовершенствована, мы бы применили ее для новых расчетов.

3. It would be impossible to build spaceships without using new material and alloys.

Было бы невозможно построить космические корабли без применения новых минералов и сплавов.

Вариант 1

A corporation is a legal entity which has a separate legal personality from its members. The law classifies a corporation either as a corporation sole (one person) or as a corporation aggregate (any other number). Most corporations are registered with the local jurisdiction as either a stock corporation or a non-stock corporation. Stock corporations sell stock to generate capital. A stock corporation is generally a for-profit corporation. A non-stock corporation does not have stockholders, but may have members who have voting rights in the corporation.

Currently, the modern business corporation is the dominant type of corporation. In addition to its legal personality, the modern business corporation has at least three other legal characteristics: transferable shares, perpetual succession capacity, and limited liability. The existence of a corporation requires a special legal framework and body of law. Corporate statutes typically give corporations the ability to own property, sign binding contracts, pay taxes in a capacity that is separate from that of its shareholders (who are sometimes referred to as “members”).

The legal personality has two economic implications. First it grants creditors priority over the corporate assets upon liquidation. Second, corporate assets cannot be withdrawn by its shareholders, nor can the assets of the firm be taken by personal creditors of its shareholders.

The regulations most favorable to incorporation include limited liability and perpetual lifetime. Unlike in a partnership or sole proprietorship, shareholders of a modern business corporation have “limited” liability for the corporation’s debts and obligations. As a result their potential losses cannot exceed the amount which they contributed to the corporation as dues or paid for shares. Limited liability reduces the amount that a shareholder can lose in a company. This in turn greatly reduces the risk for potential shareholders and increases both the number of willing shareholders and the amount they are likely to invest.

Another favorable regulation, the assets and structure of the corporation exist beyond the lifetime of any of its shareholders, bondholders, or employees. This allows for stability and accumulation of capital, which thus becomes available for investment in projects of a larger size and over a longer term than if the corporate assets remained subject to dissolution and distribution.

There are two broad classes of corporate governance forms in the world. In most of the world, control of the corporation is determined by a board of directors which is technically elected by the shareholders. In practice, with the exception of takeovers, the board members are determined by the previous board. In addition to the influence of shareholders, corporations can be controlled by creditors such as banks.

Following on the success of the corporate model at a national level, many corporations have become transnational or multinational corporations: growing beyond national boundaries to attain sometimes remarkable positions of power and influence in the process of globalizing. In the spread of corporations across multiple continents, the importance of corporate culture has grown as a unifying factor and a counterweight to local national sensibilities and cultural awareness.

Notes:

1. stock corporation – акционерная корпорация

2. voting right – право голоса

3. perpetual succession – непрерывное правопреемство

4. binding contract – юридически обязательный договор

5. corporate assets – активы корпорации

6. takeover – поглощение (покупка одной компанией контрольного пакета акций другой компании)

7. corporation sole – единоличная корпорация

8. stock corporation – акционерная корпорация

9. non-stock – неакционерный

10. aggregate – совокупный, общий

11. lifetime – продолжительность жизни; целая жизнь

I. Прочитайте текст (без словаря).

II. Перепишите и письменно переведите на русский язык следующие предложения. Помните, что объектный и субъектный инфинитивные обороты соответствуют придаточным предложениям.

1. This regulations are said to be more favorable.

2. I don’t consider him to be a potential shareholder.

3. The manager expects capital to become available for investment in projects of a larger size.

4. The easing of activity in the United States, coupled with broadly stable growth in Europe, is expected to result in a somewhat more pronounced deceleration of trade volumes in Latin America as compared with Africa, the Middle East, and Eastern European areas.

5. Successful regional agreements are expected to increase trade between partners relative to those countries’ trade with the rest of the world.

III. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод зависимого и независимого (самостоятельного) причастных оборотов.

1. Other things being equal, the internal activities of the corporation will tend to vary directly as its finances.

2. Corporation being able to sell stock, its members are stockholders.

3. Using a stylized three-country oligopoly model of intraindustry trade, economists reason that while formation of corporations can reduce tariffs in the short run, in the long run it hinders multilateral trade liberalization.

4. Corporations growing, there are more disadvantages than advantages in the process of globalizing.

5. Applying the model with an additional variable to capture overall exports of a transnational corporation, we can assess whether these corporations tend to export proportionately more than would “normally” be the case for a similar national corporation.

IV. Перепишите и письменно переведите на русский язык следующие сложные предложения. Обратите внимание на перевод условных предложений.

1. If board members activities are controlled properly, shareholders income will grow.

2. If they registered by our government as a foreign corporation, they would operate outside their home state.

3. If this businessman had made a wiser investment in a corporation, the shareholders would have received the benefit of limited liability regulations.

4. If the effects on the multilateral round are negligible, it does seem that all players appear to be quickening their efforts to seek new preferential agreements.

5. If existing or proposed policies could be evaluated using objective criteria on their ability to achieve the stated national objectives, countries and stakeholders could assess their efficacy and, if needed, adjust the policies.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Ответьте на вопросы по тексту:

1. What legal entity has a separate legal personality from its members?

2. What are the legal characteristics of the modern business corporation?

3. What regulations are considered to be most favorable to incorporation?

4. How can corporations be controlled?

5. How does the law classify a corporation?

Вариант 2

Joint Stock Company

A joint stock company (JSC) is a type of business partnership in which the capital is formed by the individual contributions of a group of shareholders. Certificates of ownership or stocks are issued by the company in return for each contribution, and the shareholders are free to transfer their ownership interest at any time by selling their stockholding to others.

Ownership of stock confers a number of privileges. The company is managed on behalf of the shareholders by an elected Board of Directors. Consequently, the share owner may attend an annual general meeting, and vote for directors and sometimes the principal officers. The shareholders receive an annual report, and vote upon the yearly audited set of accounts. Other resolutions upon important decisions can be put to them. There are other meetings, which may be called, either regularly or by special resolution of either the Board or the shareholders themselves. Of course, individual shareholders can sometimes stand for directorships within the company, should a vacancy occur, but this is unusual.

The shareholders are usually liable for any company debts that exceed the company's ability to pay. However, the limit of their liability only extends to the face value of their shareholding. This concept of limited liability largely accounts for the success of this form of business organisation.

Ordinary shares entitle the owner to a share in the company’s net profit. The individual's share of the profit is the dividend multiplied by the number of shares that they own.

The English started joint stock companies. The earliest recognized company was the Company of the Staple, a monopoly granted a group of 26 merchants in 1363, by Edward III. The British East India Company, sometimes referred to as “John Company”, was one of the more famous joint-stock companies. During the period of colonialism, the joint stock company was a financing model that allowed companies to raise large amounts of capital while lowering risk by diversifying contributed capital among multiple ventures. Europeans, initially the British, trading with the Near East for goods, enjoyed spreading the risk of trade over multiple sea voyages. The joint stock company became a more viable financial structure than previous guilds or state regulated companies. It also made it affordable to support early colonists in America. It is because of Joint stock companies that the colonization and settlement of America was made possible.

However, in general, incorporation was only possible by Royal charter or private act, and was limited owing to government’s jealous protection of the privileges and advantages thereby granted. As a result, many businesses came to be operated as unincorporated associations with possibly thousands of members. Any consequent litigation had to be carried out in the joint names of all the members and was impossibly cumbersome.

The joint stock company was a forerunner of contemporary corporate entities such as the American business corporation, the British public limited company, the French société anonyme, the German Aktiengesellschaft etc. In some countries, “joint stock company” is used as an English translation for business forms that more closely resemble corporations. While traditional joint stock companies still exist in some areas, they are generally considered an unattractive alternative to limited liability entities.

Notes:

1. joint stock company (JSC) – акционерная компания, акционерное общество (A/О, АО)

2. Board of Directors – правление

3. annual general meeting (AGM) – ежегодное общее собрание

4. shareholding – владение акциями

5. liability – ответственность, обязательство

6. John Company – Ост-Индская компания

7. venture – рискованное предприятие, спекуляция

8. royal charter – королевская грамота; королевский патент; дарованная короной привилегия; королевское пожалование

9. unincorporated associations – неинкорпорированная ассоциация, объединение без прав юридического лица

10. business corporation – амер. торгово- промышленная корпорация (занята в промышленности или торговле)

11. public limited company (PLC) – брит. открытое акционерное общество, общество с ограниченной ответственностью, открытая [публичная] компания с ограниченной ответственностью

12. corporate entity – корпорация, юридическое лицо, правосубъектная организация

I. Прочитайте текст (без словаря).

II. Перепишите и письменно переведите на русский язык следующие предложения. Помните, что объектный и субъектный инфинитивные обороты соответствуют придаточным предложениям.

1. The company debts seem to be increasing greatly.

2. Effects are considered statistically robust only if all three methods generate a significant impact of the same sign.

3. The share owner is said to attend an annual general meeting, and vote for directors and sometimes the principal officers.

4. Traditional joint stock companies are sure to exist in some areas.

5. As we see, neither the EU nor the United States seem to be less disposed toward multilateral negotiations.

III. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод зависимого и независимого (самостоятельного) причастных оборотов.

1. The joint stock company is one of financing models that allow companies to raise large amounts of capital, the other two being guilds and state regulated companies.

2. The risk of trade lowering, the profits of company increase.

3. The “new approach” regulations indicate only “essential” health and safety requirements, allowing greater freedom to manufacturers to satisfy the essential requirements and to industries to flesh out product specifications in the form of voluntary standards.

4. Limited liability companies are the companies that are free from double taxation, state intervention, dividends falling according to company’s debts and obligations.

5. Theory would suggest that sound property rights are a foundation of any country’s investment climate, and, other things being equal, stronger rights would lower risk and entice more investment at the margin.

IV. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод условных предложений.

1. If a vacancy occurs, this individual shareholder will stand for directorship within the company.

2. If the joint stock company hadn’t become the most viable financial structure, the colonization and settlement of America would have been impossible.

3. If the trade agreement leads to trade diversion away from more technologically advanced sources of inputs, then there could be a negative impact on productivity growth.

4. If working capital turned out to be too low, they would consider it detrimental to the survival of the company.

5. If the economy suffers from poor macroeconomic management, high levels of corruption, and poor infrastructure, market by itself will not offset the disadvantages.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Ответьте на вопросы по тексту:

1. What is a joint stock company?

2. How is the joint stock company managed?

3. What are the privileges of ownership of stock?

4. When did joint stock companies start?

5. Hоw can joint stock company be viewed according to the text?

Вариант 3

A public limited company is a type of limited company whose shares may be offered for sale to the public. The designation plc, Plc or PLC (any form is acceptable) was introduced in the UK by the Companies Act 1980. Internationally, PLC status is roughly equivalent to Corporation.

When a new company is incorporated in either England, it must be registered. When forming a PLC there must be at least £50,000-worth of share capital of which at least 25% must have been paid for, two shareholders, two directors, one of whom may also be the company secretary, a certificate of entitlement (the trading certificate) to do business and borrow capital.

The Companies Act generally allows two or more persons to form a company for any lawful purpose by subscribing to its memorandum of association. Formation of a public company requires a minimum of two directors. There is no minimum age limit in the Companies Act for a director to be appointed in England. The secretary of a public limited company must be a person who appears to the directors to have the necessary knowledge and ability to fulfil the functions.

When a company is formed, the person or people forming it decide whether its members’ liability will be limited by shares. The memorandum of association will state the amount of share capital the company will have and the division of the share capital into shares of a fixed amount. The memorandum of association must show the names of the people who have agreed to take shares and the number of shares each will take. These people are called the subscribers.

There is a minimum share capital for public limited companies. A company can increase its authorised share capital by passing an ordinary resolution. A company can decrease its authorised share capital by passing an ordinary resolution to cancel shares which have not been taken or agreed to be taken by any person. A company may have as many different types of shares as it wishes, all with different conditions attached to them.

A PLC has access to capital markets and can offer its shares for sale to the public through a recognised stock exchange. It can also issue advertisements offering any of its securities for sale to the public. In contrast, a private company may not offer to the public any shares in itself.

Most UK Companies are now formed electronically. If you incorporate a company yourself, you will need to send a memorandum of association, articles of association, Form 10, Form 12 together with the registration fee to the Registrar of Companies. The key difference of electronic process with the paper process is that there is no Form 12 and requirement for a statuary declaration. This significantly speeds the process and record for an Electronic Company formation is 5 minutes.

Every company must deliver an annual return to Companies House at least once every 12 months. It has 28 days from the date to which the return is made up to do this. To help companies meet this filing requirement, Companies House send a pre-printed ‘shuttle’ form to their registered office a few weeks before the anniversary of incorporation. All the company has to do is to check that the details are still correct, amend any that are not and send the form back, signed and dated, within 28 days of the date of the return which is shown on the front of the form.

Both a private company limited by shares and an unlimited company with a share capital may re-register as a PLC, but a company without a share capital cannot do so.

Notes:

1. public limited company – (PLC) – брит. открытое акционерное общество, общество с ограниченной ответственностью, открытая [публичная] компания с ограниченной ответственностью

2. limited company – товарищество, общество, компания с ограниченной ответственностью

3. share – акция; доля, пай, часть

4. Companies Act – закон «О компаниях» (общее название законов, принимаемых начиная с 1844 г. и направленных на установление основных правил ведения бизнеса)

5. share capital – акционерный капитал

6. company secretary – управляющий делами фирмы; главный бухгалтер; финансовый директор

7. memorandum of association – устав акционерного общества, устав юридического лица

8. articles of association – устав компании [товарищества, акционерного общества]

9. Registrar of Companies – Бюро регистрации акционерных компаний

10. annual return – годовой отчет

11. filing requirement – условие картотечного хранения

I. Прочитайте текст (без словаря).

II. Перепишите и письменно переведите на русский язык следующие предложения. Помните, что объектный и субъектный инфинитивные обороты соответствуют придаточным предложениям.

1. The subscribers are assumed to be aware of shares they could take.

2. A public company is likely to have its authorised share capital.

3. They believe the company to have allotted shares to the value of £75,000.

4. Multilateral, nonpreferential liberalization is likely to produce even larger gains than preferential regional agreements.

5. We consider the company secretary to do business and borrow capital.

III. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод зависимого и независимого (самостоятельного) причастных оборотов.

1. Corporations growing beyond national boundaries, power and influence of the process of globalizing increases.

2. The incorporation of a company requires a number of documents, memorandum of association, articles of association, Form 10 and Form 12 being the principle documents.

3. The company having bad debts and obligations, bankruptcy may follow.

4. Ownership of stock has a number of privileges, with resolutions upon important decisions being the most attractive function.

5. Minimum share capital decreasing, advertisements offering any of its securities for sale to the public may follow.

IV. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод условных предложений.

1. If the shareholders had passed an ordinary resolution, the company would have increased its authorised share capital.

2. If trade costs were insignificant, the propensities to trade nationally and internationally would be equal.

3. If he doesn’t consent to his own appointment, new director will be appointed.

4. If we didn’t form a new company, our business would become unprofitable.

5. If trade costs are low, then arbitrage should constrain such price variation.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Прочитайте текст и ответьте на вопросы:

1. What type of company is a public limited company?

2. Does the formation of a public company require a minimum of two directors?

3. Why do people forming a company sign the memorandum of association?

4. What problems do the subscribers deal with?

5. How does a public company change its authorised share?

Вариант 4

Дата добавления: 2017-01-14