Preface |
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xiii | |
Guide to the Online Resource Centre |
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xiv | |
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xvi | |
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xviii | |
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Table of secondary legislation |
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xxv | |
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1 | (36) |
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1 Characteristics of partnerships |
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3 | (4) |
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3 | (1) |
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4 | (1) |
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1.3 Definition of partnership |
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4 | (1) |
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1.4 Nature of partnership and terminology |
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4 | (1) |
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4 | (1) |
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5 | (1) |
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1.7 Duration of partnership |
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5 | (1) |
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1.8 Partnership name and publicity of information |
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5 | (2) |
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2 Partnership management and finance |
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7 | (8) |
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7 | (1) |
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2.2 The legal relationship between the partners (s. 24) |
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7 | (2) |
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2.3 The duty of good faith |
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9 | (1) |
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2.4 The partnership's finances |
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10 | (1) |
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2.5 The distinction between a partner and a lender |
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10 | (1) |
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2.6 Division of profits and sharing of losses between partners |
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11 | (2) |
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13 | (1) |
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13 | (2) |
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3 Liability of partners to outsiders |
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15 | (5) |
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15 | (1) |
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15 | (1) |
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3.3 Partnership and agency |
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16 | (2) |
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3.4 Persons held out as partners |
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18 | (1) |
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3.5 Liability of new partners |
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18 | (1) |
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3.6 Partners' liability in tort |
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19 | (1) |
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19 | (1) |
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20 | (3) |
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20 | (1) |
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4.2 Dissolution by the court |
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20 | (1) |
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4.3 Appointment of a receiver |
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21 | (1) |
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21 | (1) |
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4.5 Expulsion of a partner |
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22 | (1) |
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5 Termination of and retirement from a partnership |
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23 | (9) |
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23 | (1) |
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5.2 Dissolution of partnership |
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23 | (5) |
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5.3 Retirement of a partner |
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28 | (2) |
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30 | (2) |
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6 The partnership agreement |
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32 | (5) |
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32 | (1) |
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6.2 Is a written partnership agreement necessary? |
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32 | (1) |
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6.3 The clauses of the partnership agreement |
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33 | (2) |
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6.4 Issues tor an incoming partner |
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35 | (2) |
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37 | (142) |
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7 Limited companies---an introduction |
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39 | (6) |
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39 | (1) |
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7.2 Sources of company law |
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39 | (1) |
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40 | (1) |
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7.4 Types of registered company |
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41 | (1) |
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7.5 Separate legal personality |
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42 | (1) |
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7.6 `Lifting the veil of incorporation' |
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43 | (2) |
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8 Formation of a limited company |
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45 | (19) |
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45 | (1) |
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46 | (1) |
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8.3 Pre-incorporation contracts |
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46 | (1) |
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8.4 Methods of providing the client with a company |
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46 | (1) |
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8.5 Steps leading to incorporation |
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47 | (1) |
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8.6 Issues to be considered on registration |
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47 | (5) |
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8.7 The certificate of incorporation |
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52 | (1) |
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8.8 Steps necessary after incorporation |
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53 | (1) |
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8.9 Publication of a company's name |
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53 | (1) |
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54 | (4) |
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8.11 Comparison of `tailor-made' with `shelf' company |
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58 | (2) |
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60 | (1) |
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8.13 Change of accounting reference date |
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61 | (1) |
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8.14 Change of registered office |
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62 | (2) |
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Appendix: Companies House Forms and Fees |
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62 | (2) |
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9 Directors and secretary |
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64 | (23) |
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64 | (1) |
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9.2 Division of powers within a company |
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64 | (1) |
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9.3 Appointment of directors |
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64 | (2) |
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66 | (1) |
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66 | (1) |
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66 | (1) |
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9.7 Retirement of directors |
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67 | (1) |
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9.8 Removal of directors from office |
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67 | (3) |
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70 | (2) |
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72 | (4) |
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9.11 Statutory controls on directors |
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76 | (6) |
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9.12 The directors and protection of outsiders |
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82 | (3) |
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9.13 The company secretary |
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85 | (2) |
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87 | (14) |
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87 | (1) |
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10.2 Registration of membership |
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88 | (1) |
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10.3 Powers and duties of shareholders |
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89 | (1) |
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10.4 Internal disputes---introduction |
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90 | (1) |
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10.5 The constitution as a contract |
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90 | (2) |
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10.6 Actions by shareholders |
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92 | (1) |
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93 | (2) |
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10.8 Just and equitable winding up |
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95 | (1) |
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10.9 Use of company earnings |
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95 | (1) |
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10.10 Declaration and payment of dividends |
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96 | (1) |
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10.11 Restrictions on sources of dividends |
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97 | (4) |
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101 | (27) |
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101 | (1) |
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102 | (6) |
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108 | (6) |
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11.4 Financial assistance by company for purchase of shares |
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114 | (1) |
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114 | (2) |
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11.6 Finance through borrowing |
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116 | (1) |
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117 | (103) |
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11.8 Registration of charges |
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120 | (2) |
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122 | (1) |
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11.10 Remedies of debenture-holders |
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123 | (1) |
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123 | (1) |
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11.12 Position of lenders and debenture-holders 1 |
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123 | (101) |
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11.13 Steps to be taken by a lender to a company |
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124 | (4) |
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Appendix: Impact of Buy-Back of Shares on a Company's Balance Sheet |
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124 | (4) |
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128 | (10) |
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128 | (1) |
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128 | (4) |
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12.3 Transmission by operation of law |
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132 | (1) |
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12.4 Buy-back and redemption by a company I |
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132 | (4) |
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12.5 Financial assistance 132 APPENDIX: STOCK TRANSFER FORM 1 |
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36 | (102) |
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13 Company meetings and resolutions |
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138 | (10) |
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13.1 Types of general meeting |
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138 | (1) |
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139 | (1) |
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13.3 Calling a general meeting |
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140 | (1) |
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141 | (2) |
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13.5 Proceedings at meetings |
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143 | (1) |
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144 | (2) |
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1.3.7 Written resolutions |
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145 | (1) |
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146 | (2) |
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14 The articles of a private company |
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148 | (9) |
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148 | (1) |
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14.2 Provisions concerning shares and membership |
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149 | (2) |
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14.3 Provisions concerning meetings of shareholders |
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151 | (1) |
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14.4 Provisions concerning directors |
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152 | (2) |
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14.5 Single member companies |
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154 | (1) |
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14.6 Alteration of articles |
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154 | (3) |
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15 Disclosure obligations of companies and company accounts |
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157 | (12) |
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157 | (1) |
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158 | (1) |
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15.3 The duty to submit accounts |
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159 | (1) |
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15.4 Small and medium-sized companies |
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160 | (2) |
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15.5 Appointment of auditors |
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162 | (1) |
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15.6 Profit and loss account |
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162 | (1) |
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163 | (2) |
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165 | (1) |
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15.9 Interpretation of accounts |
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165 | (2) |
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167 | (1) |
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168 | (1) |
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169 | (10) |
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169 | (1) |
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16.2 The distinguishing features of a public company |
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169 | (5) |
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16.3 Seeking and maintaining a listing |
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174 | (5) |
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179 | (58) |
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17 Income tax: sole traders and partnerships |
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181 | (9) |
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181 | (1) |
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17.2 Taxable profits from a business |
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182 | (2) |
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17.3 The basis of assessment: the tax year |
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184 | (2) |
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17.4 Losses under the income tax system |
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186 | (2) |
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17.5 Income tax liability of partnerships |
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188 | (2) |
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18 The corporation tax system |
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190 | (6) |
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190 | (1) |
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18.2 Calculation of profits |
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190 | (2) |
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192 | (1) |
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193 | (2) |
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195 | (1) |
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19 Taxation of directors' fees and employees' salaries |
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196 | (8) |
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196 | (1) |
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19.2 The employer's perspective |
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196 | (1) |
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19.3 The employee's perspective |
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197 | (5) |
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19.4 The proprietors of a business |
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202 | (1) |
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202 | (2) |
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20 Taxation of distributions and debenture interest |
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204 | (4) |
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204 | (1) |
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20.2 Taxation of distributions by way of dividend |
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204 | (1) |
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205 | (3) |
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208 | (5) |
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208 | (1) |
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21.2 The capital allowances system |
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208 | (5) |
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22 Capital gains tax and inheritance tax on business assets |
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213 | (20) |
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213 | (1) |
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213 | (8) |
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22.3 CGT in the business context |
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221 | (1) |
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22.4 Disposals of partnership property |
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221 | (1) |
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222 | (1) |
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22.6 Disposals of business assets owned by those involved in the business |
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223 | (1) |
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22.7 The purchase by a company of its own shares |
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223 | (2) |
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225 | (8) |
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233 | (4) |
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233 | (1) |
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233 | (1) |
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23.3 Taxable supplies and the charge to VAT |
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234 | (1) |
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234 | (3) |
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237 | (38) |
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239 | (12) |
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239 | (1) |
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24.2 The bankruptcy procedure |
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239 | (3) |
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24.3 The trustee in bankruptcy |
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242 | (1) |
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24.4 Effect of the bankruptcy order on the bankrupt personally |
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243 | (1) |
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24.5 Assets in the bankrupt's estate |
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244 | (2) |
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24.6 Distribution of the bankrupt's assets |
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246 | (1) |
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24.7 Duration of the bankruptcy and discharge of the bankrupt |
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247 | (1) |
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24.8 Individual voluntary arrangement |
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248 | (1) |
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249 | (2) |
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25 Company insolvency proceedings |
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251 | (20) |
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251 | (1) |
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25.2 Administration orders |
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252 | (6) |
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25.3 Voluntary arrangements |
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258 | (2) |
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260 | (2) |
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25.5 Liquidation or winding up |
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262 | (1) |
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263 | (2) |
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25.7 Collection and distribution of assets in liquidation |
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265 | (1) |
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25.8 Entitlement to assets |
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265 | (3) |
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268 | (1) |
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25.10 Application to partnerships |
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269 | (2) |
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26 Liabilities arising from insolvency |
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271 | (4) |
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271 | (1) |
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26.2 Transactions at an undervalue and preferences |
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272 | (1) |
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26.3 Transactions defrauding creditors |
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273 | (1) |
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273 | (2) |
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275 | (30) |
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27 Choice of business medium |
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277 | (7) |
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277 | (1) |
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277 | (1) |
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278 | (1) |
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279 | (1) |
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280 | (1) |
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27.6 Taxation---trading profits |
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280 | (1) |
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281 | (1) |
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282 | (1) |
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282 | (1) |
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282 | (1) |
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282 | (2) |
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28 Limited liability partnerships |
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284 | (10) |
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284 | (1) |
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28.2 Key elements of LLPs |
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285 | (6) |
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28.3 Factors influencing choice |
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291 | (1) |
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292 | (2) |
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Appendix: Companies House Fees: Limited Liability Partnerships |
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293 | (1) |
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29 Sale of a business to a company |
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294 | (6) |
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294 | (1) |
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294 | (1) |
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295 | (2) |
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297 | (1) |
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29.5 Stamp duty/stamp duty land tax |
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297 | (1) |
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298 | (2) |
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30 Shareholders' agreements |
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300 | (5) |
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300 | (1) |
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30.2 Advantages of a shareholders' agreement |
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300 | (1) |
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30.3 Drafting a shareholders' agreement |
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301 | (2) |
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30.4 Legal limits on the use of shareholders' agreements |
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303 | (1) |
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30.5 En forcing the agreement |
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303 | (2) |
Index |
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305 | |