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Under UK company law and most international law, a company or corporation is considered an entity that is separate from the people who own or operate the company. [1] Forming a company via the paper filing method can take up to 4 weeks but nowadays the majority of UK companies are formed the same day electronically. Companies can be created by ...
The people interested in starting the enterprise - the prospective directors, employees and shareholders - may choose, firstly, an unlimited or a limited company. "Unlimited" will mean the incorporators will be liable for all losses and debts under the general principles of private law. [9] The option of a limited company leads to a second choice.
Community interest companies, the names of which must end with 'community interest company' or 'cic' [72] (or, if it is a public company, 'community interest public limited company' or 'community interest plc'), [73] or, in the case of Welsh companies if they so choose, the Welsh language equivalents 'cwmni buddiant cymunedol' or 'cbc' [74] (or ...
The Bank of England will either try to ensure the failed bank is sold onto another private sector purchaser, set up a subsidiary company to run the failing bank's assets (a "bridge-bank"), or for the UK Treasury to directly take shares in "temporary public ownership". This will wipe out the shareholders, but will keep creditors' claims intact.
Both a private company limited by shares and an unlimited company with a share capital may re-register as a plc, but a company without a share capital cannot do so. A private company must pass a special resolution that it be so re-registered and deliver a copy of the resolution together with an application form to the Registrar.
The Companies Act 2006 (c. 46) is an act of the Parliament of the United Kingdom which forms the primary source of UK company law. The act was brought into force in stages, with the final provision being commenced on 1 October 2009.
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