17.1 Define the following terms: holding company‚ subsidiary‚ ultimate parent‚ group entity‚ sub-subsidiary‚ reporting entity and indirect interest. Holding company: A company whose sole activity is to invest in other companies‚ at least one of which is controlled. Also used as a synonym for parent company. Subsidiary: (a) (b) An entity that is controlled by a parent. For the more elaborate legal definition refer to the Corporations Act‚ s. 46. Ultimate parent: The first level company
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formed when a business is set up from between 2 to 20 people. These partners will have a legal agreement drafted up for them specifying rights and duties. However still there is no legal distinction between the owners and the business. Purpose- some of the purpose are to enable the partners share skills and the workload‚ this also may be easier to raise the capital needed. *Companies- A company is a legal body in its own right with an existence that is separate in law from its owners. It is owned
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The main strategic aim and objective for the nearest period is a dynamic development of the Bank and achievement of a qualitatively new level with the standards of the Basel Committee on Banking Supervision. The development strategy of the Bank is based on the components‚ which together will ensure strengthen of the financial and economic situation of the Bank and the preservation of its credibility with its customers. Main strategic aims of Joint Stock Commercial Bank «APABANK» (Closed Joint Stock
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structure of the sole proprietorship‚ its formation‚ legal status‚ name registration requirements‚ funding‚ management‚ and dissolution. It also briefly notes why one might want to use this form of business association to carry on a business. II. STRUCTURE Objectives: Closed Book Be able to: (i) Briefly describe the legal structure of the sole proprietorship. (ii) Explain the potential for the management structure to become quite complex. The legal structure of the sole proprietorship is very simple
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Joint Stock Company Company A company is an artificial person created by law‚ having a separate legal entity‚ with a perpetual succession and a common seal. It is an association of individuals for the purpose of earning profit. It has a capital divided into a number of shares‚ of which each member possesses one or more shares and which are transferable by its owners. Joint Stock Company has been defined by many eminent authors‚ jurists and institutions. Some of these definitions are
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business idea‚ a business must take into consideration‚ which of the four forms of a business organization is the best fit for its product or service rather it legal‚ tax‚ accounting‚ and other implications. Opening a childcare facility requires specific legal consideration with the first being the selection of a suitable business entity. Childcare and daycare are similar but terms can be interchangeable. The IRS has special tax rules for home daycares but IRS declarations refer to expenses for childcare
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Table of content 1 | Acknowledgement | 2 | 1.0 | Introduction | 3 | 2.0 | Procedures to form a company2.1 Reservation of company name | 44 | 3.0 | Documents required to be lodged to form a company3.1 Memorandum of Association3.2 Article of Association | 555 | 4.0 | Company’s promoters | 6 | 5.0 | Natures of the company5.1 Company as a body corporate5.2 Can sue and being sued5.3 Perpetual succession5.4 Ability to own property5.5 Limited liability for its members | 8910101112 | 6
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definite address‚ telephone and email address 4/ Business registration‚Enterprise must carry out formalities which law ask to be able to establish legally‚ have its purpose is seeking profit. B) Classification of enterprise VN law: _Based on legal forms: + Limited liability company with more than one member + Sole member limited company + Shareholding company + Partnership + Sole proprietorship + State – owned enterprise + Cooperative + Foreign invested company _ Based on liability
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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 has many advantages for a business and its owners‚ including: Protects the owners’ assets against the company’s liabilities. Allows for easy transfer of ownership to another party. Achieves a lower tax
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Mississippi corporation‚ and began conducting the business through that entity. In 1981‚ he formed a second Mississippi corporation‚ Worldwide Purchasing‚ Inc.‚ and funded that corporation with the 100 percent interest he held in Worldwide Machinery. Petitioner was and is the sole shareholder of Worldwide Purchasing‚ Inc. (Braswell v. United States‚ 487 US 99 - Supreme Court 1988‚ 1988) If a corporation has been recognized as a legal “person” for First Amendment purposes‚ why doesn’t the Fifth Amendment
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