Company Law

Annual General Meeting The Companies Act 1963 require every play along to hold on an AGM, Section 131(1) states that the meeting is to take place severally calendar year and no more than 15 months atomic number 18 allowed to generate between the 2 AGMs. 21 days attain mustiness be given to the sh beholders prior to the AGM. Accounts are presented and approved, Dividends are decided and election of any new directors. Failure to hold an AGM is a breach of the act and the society is liable to a fine under Section 131(6). Annual Return (Form B1) either companies must submit this form to the Registrar of Companies at to the lowest degree once every year. This gives details of the companies registered office, share capital and debentures, a statement of debts concerning mortgages, register of members and details of directors and secretary. The Statute allocates a authorized date for the filing of the annual return. Accounts must be devoted to the form and prepared under the 1986 Act. There is a late filing fee for returns not on time. Articles of Association These are the infixed determines for the management of the company. Articles are a contract between members and the company. It states the duties of directors and shareholders. The rule for transfer of shares must be included too. Articles are advertise and any carcass can look at them by paying a fee.

Lenders may be interested to find out somewhat the approval of shareholders. Auditor Every company must appoint an meeter at each AGM. This is an accountant who verifies the accounts of the company. They begin their duties from the end of unrivalled AGM to the end of another. They retire after one year. An auditor must be a member of a supervisory body and elected under that body. Capital The funds that enable a company to be formed. It is divided into nominal capital, the amount issued to members and working capital, the amount, which is needed for the company to carry on. Company Secretary Every company must have a secretary. A sole director cannot be... If you lack to get a full essay, order it on our website: Orderessay

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