21.
What is Liquidation Liquidation applies only to companies. A company goes into liquidation even though it is sometimes said that a company has gone bankrupt. The term bankruptcy applies only to non-companies such as partnerships sole traders or individuals. company liquidations occur when the creditors of the company the people to whom the company owes money bring about an action..
22.
What is Liquidation Liquidation applies only to companies . A company goes into liquidation even though it is sometimes said that a company has gone bankrupt. The term bankruptcy applies only to non-companies such as partnerships sole traders or individuals. company liquidations occur when the creditors of the company the people to whom the company owes money bring about an action..
23.
The Law and Directors Directors and officers of companies are faced today with heavy responsibilities regarding their performance in their companies. Their responsibilities and duties are both to the shareholders of the company to the company itself and to various authorities in the USA . The full requirements and responsibilities of directors and officers of the company are laid..
24.
company Directors have Grave Responsibilities The directors and officers of the company are responsible for ensuring that the company maintains proper records ... of the company at any time. Financials statements prepared when required. All taxation requirements being complied with. If your company is a small private company then you will not be required to provide formal financial reports..
25.
Rules and Constitution The company may have a document known as a constitution which outlines how the company will be operated. It is a document that sets ... and even though you dont have to have one it is highly recommended that each company sets up its own. If a company does not set up its own constitution the default constitution contained in the Companies Act will apply to the company. Even though the draft Constitution in the Act..
26.
or offences under company law. If you have a conviction in this area then you cannot manage a company within 5 years of your conviction. If you were in prison ... awarded against them. The Commerce Commission is the company watchdog ... from shareholders against the directors of companies. Can Anyone be a Director The short answer is no. You cannot act as a director or manage a company..
27.
What is Incorporation Incorporation is a process by which a company is formed. Every company has to be incorporated or registered. It is the process ... registered company. Incorporated company In general the disadvantage of setting up a company has been the administration requirements ... a new company is an easy and quick operation. Incorporation..
28.
under the law. The liquidator collects and sells all the assets of the company. The liquidator will make a report to the creditors about the company ... all creditors and if there is a surplus this will go to the owners of the company ... of the company by the directors and officers of the company ... for the company to be deregistered. Liquidators Rights and Duties The Companys Act 1993 sets..
29.
What is Liquidation Liquidation applies only to companies. A company goes into liquidation even though it is sometimes said that a company has gone bankrupt. The term bankruptcyapplies only to non-companies such as partnerships sole traders or individuals. company liquidations occur when the creditors of the company the people to whom the company owes money bring about an action..
30.
Advantages and Disadvantages of a company The Advantages of a company ... amount on their shares. A company need only have one share and need only be operated by one shareholder and one director. Because a company has shares it is much easier to withdraw from the company by selling your shares or taking a further interest in the company by buying more shares. This flexibility..
31.
Effect of liquidation on the company The effect of liquidation on the company ... of the company and all its assets. The company is generally closed ... funds to pay off the companys creditors. At the end of the liquidation the company is struck off the Register of Companies held by the Companies Office. Effect ... to enable the affairs of the company to be fairly and equitably resolved..
32.
What Companies Must Do Under the Law The Corporation Law sets out strict rules that the company has to abide by. Penalties can be imposed if the following areas are not attended to: The directors and officers of the company have a duty of care to act honestly and correctly to protect the company as well as the shareholders. The company must publish its names on all documents..
33.
What Companies Must Do Under the Law The Limited Liability Coy Law sets out strict rules that the company has to abide by. Penalties can be imposed if the following areas are not attended to: The directors and officers of the company have a duty of care to act honestly and correctly to protect the company as well as the shareholders. The company must publish its names on all documents..
34.
Directors have Control It is the directors of a company who have the control over a companys business. This power is given to them under the constitutional rules of the company which sets out the functions and responsibilities ... with whatever your company is doing at any time ... for actions involving the company. If you find that the expertise required..
35.
are available if a shareholder feels they have been wronged by the company ... to shareholders. Bringing action against directors for and on behalf of the company ... to the company rather than its shareholders. Other statutory rights you have as a shareholder include: Basic Shareholder Rights The right to inspect the companys records. The right to obtain information about the shares held by the company..
36.
How to Register or Form Your company The procedure of company formation involves the following 4 steps: Obtain a name for your company. Decide whether to set ... of the members directors and secretary. Apply to register your proposed company. Step 1: Obtain a name for your company ... you to reserve the companys name until your documentation is ready to be filed..
37.
require from companies who are issuing stocks bonds or selling mutual funds ... If a company is looking at raising capital by offering its shares to the public ... in the company and whether it will be a suitable investment for them. The prospectus ... about that company. The prospectus also needs to show clearly if there are any risks ... of a company is carried out. For example in a new float you may send..
38.
you need to know how the market works so familiarise yourself with the process where a private company ... are offered to investors is known as an IPO Initial Public Offering. Why woulda company choose to list in the first place The obvious answer is that the company ... at making sure that anyone who has an interest in buying or selling shares in that company will be fully informed about what the company is doing. Governance Rules..
39.
period within 5 months after the balance date of the company. Acknowledgment: FAQ ... do I need and do they need to be NZ Residents The company must have at least one Director who has to be a natural ... but may do so. The appointment of a secretary is not notified to the Companies Office. How many shareholders do I need A company must have at least one shareholder which can be an individual or a company. Trusts are not recognised..
40.
Directors should Act on Signs of Trouble Some signs that indicate a company ... the situation and protecting the company. Difficulty arises when directors delay action and try to trade out of the companys problems. This can damage the company and if they have acted without due care and skill then they can be held ... These directors are generally full time employees of the company and form..
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