Company Law Flashcards
Business association which has the character of a legal person, distinct from its officers and shareholders
Company
Business association of owners and is not considered to be a legal entity
Partnership
Company is formed by 2 documents:
Memorandum of Association. Articles of Association
Examines the company’s accounts and reports to the shareholders annually on the accounts:
Auditor
Chief Administrative Officer whose responsibilities include accounting and finance duties, personnel administration and compliance employment legislation:
Company secretary
Elected by the shareholders to manage the company and decide its general policy.
Director
appointed by a court to wind up the company`s affairs:
Liquidator
Responsible for the daily operation of the company.
Managing Director
Officer of the court who commonly acts as a liquidator of a company being wound up by the court
Official Receiver
takes the initiative to form a company;
Promoter
Appointed by a shareholder to attend and vote at a meeting in their place;
Proxy
Appointed by creditors to oversee the repayment of debts.
Receiver
Member of a company by virtue of an acquisition of shares.
Shareholders
