Week 11 - Companies - Summary Flashcards
1
Q
What are companies?
A
Companies are artificial things that have their own legal personality
2
Q
Companies may be…
A
Limited or unlimited
3
Q
What do PLCs require on registration?
A
A minimum of £50,000 allotted share capital
4
Q
How are small/medium-sized companies affected?
A
There are exemptions from certain administrative duties for small/medium-sized companies
5
Q
How many limited companies be formed?
A
By Royal Charter Statute, but most commonly through registration
