Company secretaries

The qualifications required to be a company secretary are set out in the Company Act 1985. As a company office, the company secretary may be criminally liable for a default committed by the company, for example failure to file the company’s annual return with Companies House in time. An employment contract will usually specify the remit of their duties, that is, the areas of responsibility, which normally include:

· maintaining the statutory registers, for example the register of members;

· filing the statutory forms, for example notifying changes among the directors;

· serving members and auditors with notice of meetings;

· supplying a copy of the accounts to every member of the company;

· keeping minutes of directors meetings and general meetings.

Speaking: Informal presentation: a type of company

When speaking briefly about a topic of professional interest, experienced speakers will organise their thoughts in advance. A simple but effective structure divides information into three parts: 1. introductory remarks; 2. main points; 3. concluding statement. Similarly, the main points are best limited to three, as this is easy for the speaker to remember and for the listener to follow.   Notes for a response to Exercise 15 might look like this: Introductory remarks A publikt aktiebolag is the closest Swedish equivalent to a public limited company - most common form for major international businesses in Sweden. Main points 1. liability: no personal liability 2. management: board of directors (Swedish equivalent, styrelsen) has power to make decisions: shareholders don’t participate in management 3. needed for formation: memorandum of association (stiftelseurkund) and articles of association (bolagsordning) Concluding statement An aktiebolag is similar to a public limited company, with the most significant difference being that its shares do not need to be listed on an exchange or authorised marketplace.

15. Which types of companies are there in your jurisdiction? Choose one and describe it as you would for a client from another country. In your description, refer to some of the features given in the UK company table on pages 20-21. Tell your client which documents must be filed to complete the formation process. Wherever relevant, compare and contrast your company type with a UK business entity.

Reading 6: Limited Liability Partnership Bill

New legislation is often proposed in order to improve a situation which many people feel is unsatisfactory. The article on page 26 comes from a legal journal and deals with a bill introduced to the House of Commons which creates a new type of company.

16. Read the first paragraph of the article. What situation is the bill trying to improve?

17. Read through the entire article and match these headings (a-f) with the paragraphs (1-6).

a Limitations of limited liability

b Drawback: accounting requirements

c Despite imperfections, long awaited

d The need for a new form of partnership

e Benefits of the new company form

f Drawback: management liability

Дата добавления: 2015-11-14