Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. Companies in general

Collection:: Economics Books

SECRETARIAL PRACTICE charitable purposes, law and other societies, social clubs supported by the subscriptions of their members and not formed for purposes of profit, and other companies of a like nature, which, while not requiring a trading capital, desire to have the advantages conferred by incorporation. These companies sometimes obtain the licence of the Board of Trade to dis- pense with the word ‘limited.’ (S. 18.) Such licence can be revoked: and if revoked, the word ‘Limited’ will be added to the name of the company, the company will cease to enjoy the privileges conferred by s. 18 and, in the case of a company the name of which contains the words ‘chamber of commerce,’ the company must change its name to a name which does not include those words within six weeks of the revocation or such longer period as the Board of Trade may allow. [Ss. 18 (4), (5) and 19 (3).] The amounts guaranteed are in the nature of reserve liability (compare s. 49) and cannot be charged [re Irish Club Co. (1906), W.N. 127]. Companies limited by guarantee and having a share capital are not common, since they offer no advantages over a company limited by shares in the usual way. Unlimited companies are also far from common, since they furnish small attraction either to the ordinary trader or to the ordinary investor. They do not attract ad valorem duty on their capital. The vast majority of registered companies being companies limited by shares, it is not thought necessary in the following pages to refer specially to the other classes of companies. But it must be borne in mind that, unless the provisions of any particular section of the Act are expressly limited to any particular class or classes of companies, they are of general application. Thus s. 5 of the Act (as to alteration of memo- randum) and s. 112 of the Act (as to the annual general meeting) apply to all the descriptions of companies which are authorised to register; whilst s. 113 (as to the statutory meeting) applies only to companies limited by shares and to companies limited by guarantee which have a share capital, and s. 103 (as to keeping a dominion register) applies only to companies having a share capital, 7.e. to companies limited by shares and also to guarantee companies and unlimited companies if they have a share capital. It should also be borne in mind that many provisions which formerly applied only to companies limited by shares now apply also to com- panies limited by guarantee and having a share capital, e.0. S. 42 as to return of allotments. (See below, p. 50.)

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