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Proprietary Limited Company
A proprietary company, (abbreviated as 'Pty.'), is a form of privately held company A privately held company or private company is a company which does not offer or trade its company stock In finance, stock (also capital stock) consists of all of the shares In financial markets A financial market is a market in which ... in Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ... and South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. With over 60 million people, it is the world's 23rd-most populous nation and covers an area of . South Africa has three capital cities ... that is either limited or unlimited. However, unlike a public company A public company, publicly traded company, ...
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Privately Held Company
A privately held company or private company is a company which does not offer or trade its company stock In finance, stock (also capital stock) consists of all of the shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities i ... (shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known ...) to the general public on the stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as w ... exchanges, but rather the company's stock is offered, owned and traded or excha ...
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Australian Securities And Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the ''Australian Securities and Investments Commission Act 2001''. ASIC, which reports to the Treasurer of Australia, Treasurer, is responsible for the administering the following legislation: * ''Australian Securities and Investments Commission Act 2001'' (ASIC Act) * ''Business Names Registration Act 2011'' * ''Corporations Act 2001'' (Corporations Act) * ''Insurance Contracts Act 1984'' * ''National Consumer Credit Protection Act 2009'' (National Credit Act) Additionally, ASIC is also responsible for administering parts of the following legislation: * ''Ba ...
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South African Company Law
South African company law is that body of rules which regulates corporations formed under the Companies Act. A company is a business organisation which earns income by the production or sale of goods or services. This entry also covers rules by which partnerships and Trust law, trusts are governed in South Africa, together with (albeit in less detail) cooperatives and sole proprietorships. Features A company has (but is not limited to) three distinguishing features: # its legal separateness from the people involved in it—specifically from its owners, called shareholders, # its potential immortality, and # its size. Separateness A company is separate from its employees, shareholders or members (in the case of close corporations), in that the connection between them is, usually, a mere South African law of contract, contract of employment, which may be terminated, leaving both parties to go their own ways. The same generally applies, however, to those businesses which are not ...
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Australian Company Law
Australian corporations law has historically borrowed heavily from UK company law. Its legal structure now consists of a single, national statute, the Corporations Act 2001. The statute is administered by a single national regulatory authority, the Australian Securities and Investments Commission (ASIC). Since provisions in the Act can frequently be traced back to some pioneer legislation in the United Kingdom, reference is frequently made to judgments of courts there. Though other forms are permitted, the main corporate forms in Australia are public and private (in Australia termed proprietary) companies, both of which predominantly have limited liability. History Upon Federation in 1901, the Constitution of Australia granted limited powers in relation to corporations to the Australian Parliament. Each State has a residual power in relation to anything not within the Commonwealth power. The main grant of powers to the Commonwealth are as follows: :The Parliament shall, subjec ...
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Australian Company Number
An Australian Company Number (usually shortened to ACN) is a unique nine-digit number issued by the Australian Securities and Investments Commission (ASIC) to every company registered under the Commonwealth Corporations Act 2001 as an identifier. The number is usually printed in three groups of three digits. It must be quoted on all correspondence and invoices issued by that company. A similar system is used for non-company entities such as trusts, and for foreign companies. ACN Under the Corporations Act 2001, every company in Australia is issued with a unique, nine-digit number, an Australian Company Number (ACN). Companies are required to disclose their ACN on: the common seal (if any) and every other seal of the company (if any); every public document issued, signed or published by, or on behalf of, the company; every eligible negotiable instrument issued, signed or published by, or on behalf of, the company; and all documents required to be lodged with ASIC. An ACN i ...
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Company Number
A corporate tax, also called corporation tax or company tax, is a direct tax imposed on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. A country's corporate tax may apply to: * Incorporation (business), corporations incorporated in the country, * corporations doing business in the country on income from that country, * foreign corporations who have a permanent establishment in the country, or * corporations deemed to be tax residence, resident for tax purposes in the country. Company income subject to tax is often determined much like taxable income for individual taxpayers. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts or types of entities may be exempt ...
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Singapore
Singapore (), officially the Republic of Singapore, is a sovereign state, sovereign island city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bordering the Straits of Malacca to the west, the Riau Islands (Indonesia) to the south, and the South China Sea to the east. The country's territory is composed of one Singapore Island, main island, List of islands of Singapore, 63 satellite islands and islets, and Pedra Branca, Singapore, one outlying islet, the combined area of which has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the List of countries and dependencies by population density, second greatest population density in the world. With a multicultural population and recognising the need to respect cultural identities, Singapore has four Languages of Singapore, official languages; Singapore English, English, Malay lang ...
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Financial Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial report Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...ing by businesses and other organizations. Laws in many jurisdictions Jurisdiction (from Latin ''Wikt:ius#Latin, juris'' 'law' + ''Wikt:dictio, dictio'' 'declaration') is the legal term for the authority granted to a legal entity to enact justice. Colloquially it is used to refer to the geographical area (: locati ... require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year A calendar is a system of organizing days. This is done by giving nam ...
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Limited Liability
Limited liability is a legal status where a person's financial liability Liability may refer to: Law * Legal liability, in both civil and criminal law ** Public liability, part of the law of tort which focuses on civil wrongs ** Product liability, the area of law in which manufacturers, distributors, suppliers, retai ... is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to its investors is sued, then the claimant A plaintiff ( Π in legal shorthand) is the party who initiates a lawsuit A lawsuit is a proceeding by a party or parties against another in the civil Civil may refer to: *Civic virtue, or civility *Civil action, or lawsuit *Civil affai ...s are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors. A shareholder A shareholder (in the United States often referred to as st ...
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Shareholders
A shareholder (in the United States often referred to as stockholder) of a corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ... is an individual An individual is that which exists as a distinct entity An entity is something that exists as itself, as a subject or as an object, actually or potentially, concretely or abstractly, physically or not. It need not be of material existence. In ... or legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by ... (such as another corporation A corporation is an organization—usually a group of people or a company—a ...
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Private Company Limited By Shares
A private company limited by shares is a class of private limited company A private limited company is any type of business entity in Privately held company, "private" ownership used in many jurisdictions, in contrast to a Public company, publicly listed company, with some differences from country to country. Examples ... incorporated under the laws of England and Wales England and Wales () is a legal jurisdiction covering England and Wales, two of the four countries of the United Kingdom, parts of the United Kingdom. England and Wales forms the constitutional successor to the former Kingdom of England and follows ..., Northern Ireland Northern Ireland ( ga, Tuaisceart Éireann ; sco, label= Ulster-Scots, Norlin Airlann) is a part of the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usa ..., Scotland Scotland ( sco, Scotland, gd, Alba ) is a country that is part of the Un ...
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Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock ... under United Kingdom company law The United Kingdom company law regulates corporations formed under the Companies Act 2006 The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom The Parliament of the United Kingdom is the Parliamentary soverei ..., some Commonwealth A commonwealth is a traditional English term for a political community founded for the common good In philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about reason, Metaphysics, existenc ... jurisdictions, and the Republic of Ireland Ireland ( ga, Éire ), also known as the ...
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