By Roger Mason
Every little thing the corporate Director or corporation Secretary must recognize, absolutely modern with all of the legislation, available and straightforward to take advantage of available and straightforward to useHelps you keep away from dear mistakesSaves time feesFully brand new with the newest lawJargon-free, jam-packed with professional adviceA goldmine of knowledge, this significant new reference paintings covers each subject of relevance to the corporate Secretary and corporate Director.You'll locate quickly entry to the knowledge you wish and professional counsel on an enormous variety of commonly asked - and not more commonly asked questions.Fully brand new with all of the newest adjustments within the legislation and perform, it's going to prevent hours of study and provides you solutions and useful ideas to your whole queries.It will end up imperative to administrators and corporate secretaries in either small, medium and big businesses, supporting to prevent pricey errors and saving time charges.
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Extra info for 501 Questions and Answers for Company Directors and Company Secretaries (501 Questions & Answers S.)
252 WINDING-UP General 253 483 What are the three ways in which a company may be wound up? 253 484 What are the stages in a winding-up? 253 485 What is the difference between a members’ voluntary winding-up and a creditors’ voluntary winding-up? 253 486 What are acceptable reasons for a members’ voluntary winding-up? 254 487 In what circumstances can a company be wound up by the court? 254 488 In what circumstances might the court decide that it is just and equitable for a company to be wound up?
However, charities will be able to have CICs as subsidiaries. 4. A CIC will be required to produce an annual community interest company report. This will be publicly available at Companies House. 5. A CIC will be prohibited from distributing any profits to its members. However, a CIC that is limited by shares will have the option of issuing dividend-paying ‘investor shares’. The dividends payable on such shares will be subject to a cap. 6. When a CIC is wound up its residual assets will not be distributed to its members, as in the case of a normal company.
They cannot be unlimited or limited by guarantee. Key differences include the following: • The allotted value of the share capital of a public company must be at least £50,000, of which at least 25 per cent must be paid up. Any share premium must be 100 per cent paid up. There is no minimum sum for the share capital of a private company, although it cannot be NIL. • Only a public company can be a listed company. • Only a public company can issue a prospectus and offer its shares to the public. More differences are detailed in the answer to the next question.
501 Questions and Answers for Company Directors and Company Secretaries (501 Questions & Answers S.) by Roger Mason