Author: Bayless Manning
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
Legal capital and shareholder distributions are among the subjects covered in this well-organized textbook. Other topics include regulating the shareholder's contribution and abolition of Treasury shares. The first two parts of the book examine the Revised Model Business Corporation Act and how it relates to constructing and leveling the Labyrinth. Part III presents a "State of Play-1990" that examines yesterday and tomorrow as contemporaries.
Author: Ruoying Chen
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
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Book Description
Since the first corporate law in China was passed in 1993(the 1993 Corporate Law), China took a rather strict approach on enforcing capital maintenance requirement, especially through a requirement of a statutory minimal registered capital. Such an approach survived in the substantial revision of corporate law, taking effect in the year of 2005 (the 2005 Corporate Law). In 2013, such a requirement was abandoned rather dramatically with the issuance of a set of regulatory rules by the State Administration of Industry and Commerce (the company registrar) and subsequently confirmed in a set of amendments to the corporate law (the 2013 Corporate Law). The reactions to such a rather sudden change diverged. Some praised this change a revolution which would liberate the market and unleash the power of investment. Others, however, expressed reservations and deep concerns, especially with respect to the protection of creditors of small-to-medium-sized companies without track-record in the market. The evolution of the capital maintenance requirement in China fits well with the general trend and patterns in other jurisdictions: moving from a stringent legal capital regime towards a more liberalized and flexible capital regime, such as France, Germany, Japan and Korea. Meanwhile, this process presented certain features unique to China, which is the focus of this Chapter. In particular, the evolution has closely tracked the economic reform in China of a centrally planned economy to a more market-oriented economy. Meanwhile, the capital maintenance rule in China is still a work-in-progress in terms of achieving the goal of protecting creditors' interest with a liberalized subscribed capital regime, leaving critical gaps and challenges.The rest of the Chapter is organized as follows. Section I provides a brief overview of China's economic reform for the past four decades and its impact on corporate law in general, and the evolution capital maintenance rule in particular. Section II provided an overview of the legal capital regime under the 1993 Corporate Law and 2005 Corporate Law. Section III sets out the various costs of the legal capital regime. Section IV introduced the new capital rule regime created under the 2013 Corporate Law, especially the subscribed capital regime. Section V sets out a few challenges embedded in this new regime. A brief conclusion follows in the end.
Author: William Wilson Cook
Publisher:
ISBN:
Category : Corporation law
Languages : en
Pages : 1056
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Book Description
Author: Andreas Cahn
Publisher: Cambridge University Press
ISBN: 1107186358
Category : Law
Languages : en
Pages : 1095
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Book Description
Presents in-depth, comparative analyses of German, UK and US company laws illustrated by leading cases, with German cases in English translation.
Author: Marcus Lutter
Publisher: Walter de Gruyter
ISBN: 311092658X
Category : Law
Languages : en
Pages : 713
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Book Description
Europe has known very different systems of company laws for a long time. These differences do not only pertain to the board structures of public companies, where single-tier and two-tier structures can be distinguished, they also pertain to the principles of fixed legal capital. Fixed legal capital is not a traditional ingredient of English and Irish company law and had to be incorpo-rated into these legal systems (only) for public limited companies according to the Second European Company Law Directive of 1976. Both jurisdictions have never really embraced these rules. Against this background, the British Accounting Standards Board (ASB) and the Company Law Centre at the British Institute of International and Comparative Law (BIICL) have initiated and supported a study of the benefits of this legal system by a group of experts led by Jonathan Rickford. The report of this group has been published in 2004. Its result was that legal capital was costly and superfluous; hence, the Second Directive should be repealed. The British government has adopted this view and wants the European Commission to act accordingly. Against this background a group of German and European company law experts, academics as well as practitioners, have come together to scrutinise sense and benefits of fixed legal capital and all its specific elements guided by the following questions: What is the relevant legal concept supposed to achieve? What does it achieve in reality? What criticisms are there? Which proposals or alternatives are available? From the outset the group of experts has endeavoured to cooperate with foreign colleagues, which resulted in very fruitful and pleasant exchanges. This volume contains, besides an executive summary of the results, 16 essays on specific aspects of legal capital in Germany covering also neighbouring fields of law (e.g. accounting, insolvency); 7 reports on fixed legal capital in other jurisdictions (France, Great Britain, Italy, the Netherlands, Poland, Spain and the U.S.A.) addressing the same questions as the essays on German law. The British initiative disapproves of the Second Directive. The Directive does only deal with public limited companies in Europe, which is reflected in the analysis presented here. It is only concerned with the fixed legal capital of public limited companies, not with capital issues of private companies. The study has arrived at a result that differs completely from that of the Rickford group. It verifies the usefulness of the concept of fixed legal capital and wishes to convince the European Commission of the benefits of the Second Company Law Directive.
Author: Marcus Lutter
Publisher: Walter de Gruyter
ISBN: 9783899493399
Category : Business & Economics
Languages : en
Pages : 716
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Book Description
Europe has known very different systems of company laws for a long time. These differences do not only pertain to the board structures of public companies, where single-tier and two-tier structures can be distinguished, they also pertain to the principles of fixed legal capital. Fixed legal capital is not a traditional ingredient of English and Irish company law and had to be incorpo-rated into these legal systems (only) for public limited companies according to the Second European Company Law Directive of 1976. Both jurisdictions have never really embraced these rules. Against this background, the British Accounting Standards Board (ASB) and the Company Law Centre at the British Institute of International and Comparative Law (BIICL) have initiated and supported a study of the benefits of this legal system by a group of experts led by Jonathan Rickford. The report of this group has been published in 2004. Its result was that legal capital was costly and superfluous; hence, the Second Directive should be repealed. The British government has adopted this view and wants the European Commission to act accordingly. Against this background a group of German and European company law experts, academics as well as practitioners, have come together to scrutinise sense and benefits of fixed legal capital and all its specific elements guided by the following questions: What is the relevant legal concept supposed to achieve? What does it achieve in reality? What criticisms are there? Which proposals or alternatives are available? From the outset the group of experts has endeavoured to cooperate with foreign colleagues, which resulted in very fruitful and pleasant exchanges. This volume contains, besides an executive summary of the results, 16 essays on specific aspects of legal capital in Germany covering also neighbouring fields of law (e.g. accounting, insolvency);7 reports on fixed legal capital in other jurisdictions (France, Great Britain, Italy, the Netherlands, Poland, Spain and the U.S.A.) addressing the same questions as the essays on German law. The British initiative disapproves of the Second Directive. The Directive does only deal with public limited companies in Europe, which is reflected in the analysis presented here. It is only concerned with the fixed legal capital of public limited companies, not with capital issues of private companies. The study has arrived at a result that differs completely from that of the Rickford group. It verifies the usefulness of the concept of fixed legal capital and wishes to convince the European Commission of the benefits of the Second Company Law Directive.
Author: Navneet Singh
Publisher: Navneet Singh
ISBN:
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
Share capital refers to the total amount of capital raised by a company through the issuance of shares to shareholders. It represents the ownership stake that shareholders have in the company. Share capital is one of the key components of a company's balance sheet and is categorized into different types of shares, each with its own rights and privileges. Here are some important points about share capital: Authorized Share Capital: This is the maximum amount of share capital that a company is authorized to issue, as specified in its articles of association or charter. It represents the upper limit of the company's capital-raising capacity. Issued Share Capital: Issued share capital is the portion of authorized share capital that the company has issued and sold to shareholders. It represents the total value of shares that are in the hands of investors. Subscribed Share Capital: Subscribed share capital is the portion of issued share capital that shareholders have agreed to purchase or subscribe to. It may be equal to or less than the total issued share capital, depending on the extent to which shareholders have subscribed to the shares offered by the company. Paid-up Share Capital: Paid-up share capital is the portion of subscribed share capital for which shareholders have already made payments to the company. It represents the actual funds received by the company in exchange for the shares issued. Types of Shares: Share capital may consist of different types of shares, such as ordinary shares, preference shares, or redeemable shares, each with its own rights and characteristics. For example, ordinary shares typically confer voting rights and entitle shareholders to dividends, while preference shares may have priority rights to dividends or assets in the event of liquidation. Increase or Decrease: Companies may increase their share capital through a process known as capitalization, which involves issuing additional shares to existing shareholders or selling new shares to outside investors. Conversely, share capital can be reduced through processes like share buybacks or capital reduction schemes, subject to legal and regulatory requirements. Regulatory Compliance: Companies are required to comply with relevant laws and regulations governing the issuance and management of share capital. This includes disclosure requirements, approval procedures, and compliance with corporate governance standards. Overall, share capital plays a crucial role in determining the ownership structure, financing, and governance of a company, and it reflects the financial resources available to support its operations and growth.
Author: Bayless Manning
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 200
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Book Description
Author: Eilis Ferran
Publisher: OUP Oxford
ISBN: 0191651141
Category : Law
Languages : en
Pages : 531
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Book Description
Corporate finance theory seeks to understand how incorporated firms address the financial constraints that affect their investment decisions. This is achieved by using varied financial instruments that give holders different claims on the firm's assets. Recent scholarship in this area explores precisely how legal mechanisms affect corporate finance and the development of financial markets. The legal environment is crucially important in explaining the choices that companies make about their capital structure. This book combines company law, capital market regulation and commercial law to give readers a detailed understanding of the legal and regulatory issues relating to corporate financial transactions. Informed by insights from the theoretical and empirical work of financial economists, the book examines, from a legal perspective, key elements of corporate financing structures and capital markets in the UK. The authors' practical experience of transactions and regulatory issues ensures that thorough scholarly inquiry and critical reflection are complemented by an assured understanding of the interface between legal principles and rules as they are documented and in their actual operation.
Author: Bayless Manning
Publisher:
ISBN: 9781599417721
Category : Corporations
Languages : en
Pages : 0
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Book Description
Softbound - New, softbound print book.
