搜索
Thisreportaimstoexplainthecompanylawwhichisaboutsettingupacompany.Indeed,thereportwillprimarilydescribethecontentsoftheconstitutionaldocumentsofacompanybeforeillustratingtheformalprocessforcompanyregistration.Thereportwillthenexplainthemeaningandcharacteristicofseparatelegalpersonality.Finally,thedifferentformsofcorporatebodywillalsobediscussedandcompared.Whensetupacompany,theinvestorsmustcomplywithallkindsofformalities.TheyshouldcreateandfiletheMemorandumofAssociationatfirst.TheMemorandumofAssociationisoneofthetwomostimportantdocumentstobelodgedwiththeRegistrarofCompanies.Itisoftenreferredtoasthecompany'sexternalconstitution,whichdetailstherelationshipbetweenthecompanyandtheworldoutsideit.Thisdocumentshouldinclude:1)ThenameofthecompanyshouldberegisteredattheCompaniesHouse2)Theregisteredofficeaddressofthecompany3)Thepurposeofregisteredcompany(includingwhatiscompany'sbusinessscope,howtosetupthecompany'spurpose,whatisthecompanypurpose)4)Thestatementoflimitedliability(itshouldincludethedetailsofavailableshare,includingnumberandtype)5)Ifthecompanyisregisteredasapubliccompany,thesub-clausemustbestatedthatcompanyisapubliccompanyMoreover,itispossibleforthecompanytohavesomeotherclausesintheirmemorandumistheywant.Thepurposeoftheclausesofmemorandumistoensureitdifficulttochange.InadditionthecompanyshouldalsocreateandfiletheArticlesofAssociation.TheArticlesofAssociationandMemorandumofAssociationmustbesubmittedtotheregistrarofCompaniesHouse.Ingeneral,theArticlesofAssociationcanbeseemedastheinternalconstitution.Itcoversthreemainareasandestablishestherulesforthecompany,whichincludes:1)Thecompany’sshares(1.Thedifferenttypesofsharesandtherightattachedtoeach.2.Howthesharesaretransferredtonewownersandthepaperworkinvolved)2)Thecompany’smeeting3)DirectorsandtheirpowersIngeneral,theArticlesofAssociationandMemorandumofAssociationaretogetherfromtheCompanyConstitution.Anyarticleswhicharecontrarytopublicpolicyareconsideredasillegalandinvalid.AlloftheabovedocumentsmustbesubmittedtotheregistrarofCompaniesHouse.OncetheRegistraratCompaniesHousearecheckedallthedocuments,thecompanywillbeformallyregisteredandacertificateofincorporationwillbeissuedtotheregisteredofficeaddress.Itmeansthecompanyhasalreadycompliedwiththelawandcanstarttrading.Thewholeprocessusuallytakesaslittleasfivedays.Thenatureofacompanyinthelawisthatithasaseparatelegalpersonality.Thelegaldoctrineofincorporationmeansthatacompanyisalegalperson,whoinitsownrightandexistsseparatelyfromitsshareholders.Indeed,thecompanyownspropertyandassistinitsownright.Thisislikeaveilbeingdrawnbetweenthosedealingwiththecompanyanditsmember.TakeSalomonvSalomon&CoLtd.asanexample.Salomonsetupacompanyandallottedonsharetothemembersofhisfamily.Themajorityofthesharesheregisteredforhimself.Hethensoldhissharestothecompany.Whenthecompanybankrupt,debtorscouldnotclaimtheirmoneyfromSalomonashewasdeemedentirelyseparateformthecompany.Therearesomeadvantagesofseparatelegalpersonality.Firstly,theboardofmanagementisseparatefromtheownerofthecompany.Itmeanstheinvestorsneednottoparticipateintheoperationofthecompany.Secondly,theownersofthecompanyhavelimitedresponsibilityforthedebts.Theyonlystandtolosetheamounttheyhaveinvestedinthebusinesstodate.Finally,therearesomedifferencesbetweenprivatelimitedcompanyandpubliclimitedcompany.Themaindifferenceisthatthesharesofpubliclimitedcompanyareavailableforpublictobuy.Thepubliclimitedcompaniescanoffersharestothepublicthroughstockexchangemarket.Companylaw1985Section81regulatesthat,ifaprivatecompanysoldsharesandcorporatebondspublic,ithasviolatedacriminaloffence.Apubliccompany'scapitalrequirementisthelowestsharesfor50000pounds,25%ofwhichmustbepaid,suchashavebeenproposedtoissueshares.Itiseasierforpubliccompanytoraisecapitalinthisway.ThenameofthecompanymustshowitisaPubliccompanyorprivatecompany.Plcispubliclimitedliabilitycompany.Ltdorlimitedreferstoprivatecompanies.AprivatecompanydoesnotneedtostatethetypeofthecompanyinitsMemorandum.Apubliccompany'ssecretaryneedstohaverelevantlegalrepresentativequalification.Butprivatecompaniesdon’tneedthisrequirement.Listedcompaniesmusthaveatleasttwomembersandtwodirectors.Privatecompaniescanbeonlyonememberandonedirector.再把书上P28页第二段加进来（publiccompaniesmust。。。。。。）以后不要再用google或者其他翻译软件翻译了。英国老师看的出来，不让过的。