Creation of the Companies

The new companies.
By the English legislation there are four types of the companies which can be registered.
The company with limited liability - the responsibility of any shareholder cannot be more, than for the sum of not paid actions(shares) which it(he) owns. When actions(shares) are let out(released), there is a certain quantity(amount) of actions(shares) in any company. There is a certain obverse cost on each action(share), for example, 100 actions(shares) cover the share capital of the company. Two can be let out(released) and are completely paid, and the balance of 98 actions(shares), 98 pounds, is the size of the responsibility concerning the company.
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The company with limited liability on a guarantee - the responsibility of any members and shareholders is limited by the sum which they have agreed to pay in actives of the company. This type of the company basically exists for realization of the charitable purposes and cannot be used for carrying out of transactions with reception of profit.
The company with the unlimited responsibility is a private(an individual) company without any restrictions for its(her) members.
The company of the open type - actions(shares) in this company can be offered for public sale, but the responsibility of shareholders also as well as in the company with limited liability, cannot exceed the sum of not paid actions(shares) which they own.

Who can found the company.

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By the basic legislation the person(face) can generate the company for any lawful purposes if the Memorandum of Association is approved(confirmed). The company of the open type or the company with the unlimited responsibility should have at least two shareholders.

As the company is generated.
The companies are formed by opening of the Memorandum and clauses(articles) of Association. The memorandum approves(confirms) a name of the company, an arrangement of registration office of the company (office where the correspondence should come). It(he) should be in England, the Wales or Scotland. The memorandum contains the cores of the chapter(head) allowing the company to work in various commercial directions. Others of the chapter(head) of the Memorandum depend on what kind the company will be registered(recorded). The memorandum should be signed by each shareholder at presence of the witness, and its(his) form is transferred(transmitted) in Companies House.

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Clauses(Articles) of Association approve(confirm) rules for activity of the company and conducting its(her) internal affairs.
Also it is necessary to register all data of the first director and (or) the secretary, and the prospective address of registration office. By granting the address and names dates of a birth, a trade of persons(faces), the list of other posts in the companies of the Great Britain which are stored(kept) within last five years also are specified. Any appointed(nominated) employee or the shareholder should date and sign the corresponding(meeting) form. The person(face) can operate(work) as director and as the secretary of the company provided that it(he) is not unique director of the company.
Registration office of the company is the address where any correspondence including from Companies House goes. The registration office can be in England or the Wales, and it should be the real address for delivery of the correspondence in the company without any delays. If the company changes registration office after its(her) establishment it(she) is obliged to notify on it(this) Companies House.

As a lot of serving the company should have.
Each company should have the employees usually appointed(nominated) for all time. The private(individual) company one director and the secretary of the company are required at least. Hence, there should be two employees as unique director cannot be as well the secretary of the company.

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The company of the open type should have two directors and one secretary, qualified to carry out the functions.
All the serving companies have the broad audience of duties under the English legislation. If new director or the secretary are appointed(nominated), or they have combined the powers, or have changed surnames, the address or other data, all this information should be presented in Companies House.

What requirements are shown to director of the company. Basically any person(face) can be director of the company. It cannot operate(work) as director in the following: This person(face) earlier should not be disqualified on court as director of other company. The person(face) should not be the bankrupt which has not executed obligations, certain on court. If the company is the company of the open type the person(face) be more senior than 70 years can director of the company, precisely on approval of assembly of all members of the company. There is no minimum for age restriction on a post of director of the company, but it should be the sufficient age corresponding(meeting) purpose(assignment,destination).

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