In the UK, the statutory minimum of £50,000 for the share capital of a public company. There is no minimum share capital for private companies.
A Chartered Company is a type of company that is incorporated through a Royal Charter, distinguishing it from companies incorporated under general company law or private acts of parliament.
The City Code on Takeovers and Mergers, initiated in 1968, provides guidelines and regulations to ensure fair practices in company takeovers and mergers, safeguarding shareholder interests and maintaining market integrity.
An incorporated organization in which the liability of members is limited by the constitutional documents to the amounts paid, or due to be paid, for shares. In the UK, this is the most popular form of company.
The Eighth Company Law Directive (1984) focused on the role and regulation of auditors within the European Union. Incorporated into UK law through the Companies Act 1989, it was superseded by the Statutory Audit Directive in 2006.
The Fourth Company Law Directive, also known as the Fourth Accounting Directive, was an EU directive established in 1978 to harmonize company law and accounting practices among EU member states.
An essential official document required to submit to the Registrar of Companies for the formation of a new company, highlighting initial details like company type and authorized share capital.
An ordinary resolution is a standard resolution that can be passed with a simple majority vote of more than 50% of company members either in person or by proxy. It is typically used when no specific type of resolution is required by the Companies Act 2006 or the company's articles of association.
A private limited company is a type of business entity which has limited liability and restricted ownership, preventing it from offering shares to the public.
A public limited company (PLC) is a type of company under UK, Indian, and certain Commonwealth countries' law which is publicly traded and operates with limited liability.
A binding decision made by the members of a company, either via voting at a general meeting or by unanimous informal consent, as recognized under UK company law and stipulated in the Companies Act or company articles.
S.A. refers to a corporate structure commonly used in Spanish-speaking and French-speaking countries. It is equivalent to a corporation (Inc.) in the United States or a public limited company (PLC) in the United Kingdom.
A service contract is a legally binding agreement between an employer and a director or other very senior employee, outlining terms of employment, responsibilities, and protections for both parties.
A special resolution is a resolution of the members of a company that must receive the approval of at least 75% of the members to be valid. It’s a crucial mechanism for making significant changes within a company, requiring thorough notice to all members and detailed information about the proposed resolution.
An unlimited company is a type of company where its members have unlimited liability. This means that in case of liquidation, members are required to cover all the company's debts using their personal assets, if necessary.
