1.4 Factors which inform business ownership Flashcards
1
Q
What are the legal requirementss for limited companies?
A
Memorandum of Association
Articles of Association
Annual General Meetings (AGMs)
2
Q
What is the Memorandum of Association?
A
A legal statement signed by all initial shareholders or guarantors agreeing to form the company.
Includes Registered company name, date registration, name of each shareholder who become the first members of the company
3
Q
What is the Articles of Association?
A
Written rules about running the company agreed by the shareholders, guarantors or directors
Liability of shareholders, directors shares and distributions,, decision-making by shareholders, administrative arrangments
