will be able to: 1. Explain the concept of the corporation 2. Outline the development of company law in England and Australia 3. List the various types of corporation 4. Describe the Corporations Law scheme. 5. Outline the recent reform of company law in Australia 6. Explain the need for the introduction of the Corporations Act 2001 Chapter 1 Historical Development of Company Law Chapter Summary 1 THE CONCEPT OF THE CORPORATION A corporation is a body created by
Premium Corporation Types of companies
Winding up of Company: Winding up of a company is the process whereby its life is ended and its property administered for the benefit of its creditors and members. An administrator called a liquidator‚ is appointed and he takes control of the company‚ collects its debts and finally distributes any surplus among the members in accordance with their rights. Kind of Companies can be wound up: Only a limited company can be wound-up. The term "winding-up" (or "wound-up") bears a similar meaning of
Premium Asset Sole proprietorship Liquidation
general meeting of a company which is held once a year. According to Section 143 (1) CA‚ every company is required to hold its first AGM within 18 months after the date of incorporation. Subsequently‚ AGM should be held within 15 months from the date of preceding AGM. In addition to this subsection‚ Section 169 (1) CA requires the company to hold its AGM not later than 6 months after financial year end. Since there are two provisions governed the determination of date of AGM‚ a company is required to choose
Premium Board of directors Financial audit Balance sheet
There are many advantages of Nike being a multinational company such as multinational products and services provide the best possible standards. Because in a foreign country‚ Since customers are willing to spend their money on the best products‚ the multinational companies need to keep the strong competitors at bay so they must to produce really high standard goods. Secondly‚ multinational corporations play a big role in creating employment in the foreign countries. Because of their many shops ‚
Premium Corporation International relations Multinational corporation
limited company or a PLC. A public limited company always tends to be a larger type of company. This is generally a good thing. In a large company it is almost always more stable. The most important advantage of having a large company is more specialized workforce. For example‚ in a small company people tend to multitask rather than be specialized. For example‚ in a restaurant‚ a small company may order the staff to be the cashier and serve the food. On the other hand‚ in a large company can afford
Premium Limited company Corporation Stock market
UNILEVER Strengths * Recognise as a Global Company Unilever is a well known global company with presence almost in more than 170 countries and it is registered at various stock exchanges around the globe which makes it a really global company with all the privileges of a global company like economies of scale‚ access to global resources and above all synergy of resources and operations. * Strong brand portfolio Unilever has established a very strong relationship with retailers by
Premium Economics Mergers and acquisitions Multinational corporation
Virginia Company: Profits or Loses‚ 1606-1624 During inception the natives agreed to trading provisions to the colonists in exchange for metal tools. In 1609 John Smith the governor‚ started establishing raiding parties for food from the natives. The Powhatan fled further away from the Jamestown fort which caused a period of famine for the English from 1609-10. Many investors including The London Company became concerned about the future of the Virginia Company and how it would survive. Peace had
Premium John Rolfe Pocahontas Slavery
ALMARAI [pic] (Arabic for "pasture") is the largest integrated dairy foods company in the world. The company was established in the Kingdom of Saudi Arabia in 1976 as a partnership between the Irish agri-foods pioneer Alastair McGuckian and his brother Paddy‚ and HH Prince Sultan bin Mohammed bin Saud Al Kabeer. The company is based in Riyadh. History of Al-Marai Established in 1977. HH Prince Sultan bin Mohammed bin Saudi Al Kabeer‚ Almarai’s Chairman‚ recognized an opportunity to transform
Free Milk Dairy Public company
sets” were made. Loblaw Companies has now grown to over seventy locations in Ontario alone. (Loblaw Website‚ Main Page) The years 2005 to 2008 were very important for Loblaw‚ the company underwent expansion to ultimately ensure their mission to be “Canada’s best food‚ (Loblaw: First Store) health and home retailer by exceeding customer expectations through innovative products at great prices.” These expansions are still taking place today. “In 2005‚ Loblaw Companies Limited moved closer to
Premium Supermarket Balance sheet Annual report
? Limited liability company The idea began to resonate in my mind about a year ago that I should have a career that I would love and really enjoy going to work for. Soon after I came to that conclusion it dawned on me that that job for me would be to own my own coffee shop. Choosing what the business does is only a drop in the bucket when it comes the steps of creating that business. First I need to decide whether I should go into this business venture with someone else‚ otherwise known as
Premium Types of companies Legal entities Corporation