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Corporate Separate Personality
Member rating: No Rating | Words: 877 | Submitted: Mon Feb 18 2008
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Critically assess the effects of Corporate Separate Personality A company is one which can vary in size and in what kind of speciality and products they offer but they all have a few common factors amongst one another. All companies must comply with effects of registration by following the statutes in the companies Act 2006 s 16. A sector of this statute1 states that when a company consists of shares the members who have subscribed to the memorandum of association can then become the holders of the shares they had subscribed. The two similarities I am going to look at are; limited liability and separate legal personality. The latter refers to the liability of the members of a company is limited by the number of shares they hold. If the company faces a point during their incorporation where they have insufficient funds the company's creditors cannot seek the amount from members. Separate...
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