Company Law Maintenance Of Capital Notes

Updated Company Law Maintenance Of Capital Notes

Company Law I

Approximately 41 pages

These notes are from the first module of Company Law. In particular, you will find separate documents for notes on the concept of separate legal personality, on shares and membership in a company, on the legal duties expected of directors and on the maintenance of company capital. These are A- notes and my final grade was an upper 2:1 Honors in Civil Law. These notes are comprised from a mixture of sources such as notes, academic legal contract law books, readings and notes from tutorials. ...

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The following is a more accessible plain text extract of the PDF sample above, taken from our Company Law I Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

MAINTENANCE OF CAPITAL Capitalsource of funds of a company These sources: 1. Retention of property 2. Borrowing from financial institutions 3. Issuing of shares s.64 of the 2014 deals with: • Company capital, a new term which comprises the company's share capital, share premium, capital conversion reserve fund and capital redemption reserve fund; Reserve capital - Profit reserved for a particular purpose. • It shows the part of the authorizes capital that has not been yet called up by the company and is available for drawing. • It will be on the balance sheet - reserved for future or long-term capital investment projects or anticipated expenses ➢ Capital conversion reserve fund and capital redemption reserve fund; Share capital Par value of shares - in reality it can go above the par value - The aggregate amount or nominal number of a share value • Regardless of what the share actually amounts to, if you have 10 shares worth 10 euro which is the nominal value, you have 100 euro in shares Share premium account - The money put into the account that is the remainder of the value which exceeds the par value of shares. • Balances the difference between the par value and the selling price Say the shares are actually worth 12 euro each - the 2 euro will go into the share premium account. Undenominated capital

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