Legal opinion for formation of a public company Coursework

Legal opinion for formation of a public company - Coursework Example Before the company starts its business, it must have allotted shares whose minimum value should be at least 50, 000 pounds. A quarter of the shares should be paid up; this amounts to ?12, 500. For each of the allotted shares, up to the last quarter of its nominal value has to be paid up as well as any premium (Companies House, 2012). The other procedure in the formation of a public company includes the choosing of directors of the company. Several requirements have to be followed when choosing the company directors. One of the requirements is that the person should not be disqualified by law from becoming a director or be bankrupt. The maximum age of directors that was previously seventy years has been removed. During the formation of the company, the minimum age required for company directors is sixteen years. The directors of the company should then select few names (four) that are suitable enough and indicate the company’s objective (Companies House, 2012). One of the four names selected will become the main name while the three others have to be mentioned in their order of preference. The directors should then make an application to the registrar of companies to ascertain whether the selected names are appropriate. Once the names go through, the next step includes the drafting of the memorandum of associations and articles of association. The authorized share capital of the proposed public company should then be declared and be in line with the minimum paid up capital required in forming a public company. The next step involves filing a declaration and attaching the statement in lieu of the prospectus. Once the company is through with these steps, it will obtain a certificate that will enable it to commence business. Shares will be floated through an initial public offering, which states the price per share and the minimum and maximum number of shares that can be held by shareholders (Companies House, 2012). How the courts distinguish between contrac ts of service and contracts for services and the importance of this distinction. The law distinguishes between a contract of service and a contract for services. A contract of service refers to an agreement, which may either be verbal or written, implied or expressed. In this contract, a person makes an agreement employ another person as an employee while the employed person makes an agreement to serve the employer. An example of a contract of service includes an apprenticeship agreement or contract. On the other hand, contracts for services refer to independent contractors and sub-contractors. In differentiating between a contract of service and contracts for services, courts apply such tests as integration and control (Barendrecht 2007, p. 151). The test of integration looks at the extent to which the work of the employee may be said to be integrated into business. The control test explores the question on whether the employer can tell the employee what they ought to do. Other tes ts applied by the courts in the distinction between contracts of services and contracts for services include mixed or multiple tests. These tests question whether the agreement or engagement has wages, holiday pay, and sick pay. The courts state that these tests ask whether PAYE and PRSI are deducted. According to the courts, these multiple and mixed tests should also look at whether

How to Compete in India Essay Example for Free

How to Compete in India Essay 1. The political environment in India has proven to be critical to company performance for both PepsiCo and Coca-Cola India. What specific aspects of the political environment have played key roles? Could these effects have been anticipated prior to market entry? If not, could developments in the political arena have been handled better by each company? 2. Timing of entry into the Indian market brought different results for PepsiCo and Coca-Cola India. What benefits or disadvantages accrued as a result of earlier or later market entry? 3. The Indian market is enormous in terms of population and geography. How have the two companies responded to the sheer scale of operations in India in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. â€Å"Global localization† (glocalization) is a policy that both companies have implemented successfully. Give examples for each company from the case. 5. How can Pepsi and Coke confront the issues of water use in the manufacture of their products? How can they defuse further boycotts or demonstrations against their products? How effective are activist groups like the one that launched the campaign in California? Should Coke address the group directly or just let the furor subside? 6. Which of the two companies do you think has better long term prospects for success in India? 7. What lessons can each company draw from its Indian experience as it contemplates entry into other Big Emerging Markets? 8. Comment on the decision of both Pepsi and Coke to enter the bottled water market instead of continuing to focus on their core products—carbonated beverages and cola-based drinks in particular.

Greek Mythology :: essays research papers

The Greeks believed that the earth was formed before any of the gods appeared. The gods, as the Greeks knew them, all originated with Father Heaven, and Mother Earth. Father Heaven was known as Uranus, and Mother Earth, as Gaea. Uranus and Gaea raised many children. Amoung them were the Cyclopes, the Titans, and the Hecatoncheires, or the Hundred- Handed Ones. Uranus let the Titans roam free, but he imprisoned the Cyclopes and the Hundred- handed Ones beneath the earth. Finally, Gaea could not bear Uranus's unkindness to the Cyclopes and the Hundred-Handed Ones any longer. Gaea joined Cronos, one of the Titans; and together, they overcame Uranus, killed him, and threw his body into the sea. Aphrodite, goddess of love and beauty, later rose from the sea where Uranus's body had been thrown. Now Cronus became king of the universe. Cronos married his sister, Rhea, and they had six children. At the time of Cronos's marriage to Rhea, Gaea prophesied that one of his children would overthrow Cronos, as he had overthrown Uranus. To protect himself, Cronos swallowed each of his first five children -- Hestia, Demeter, Hera, Hades, and Poseidon -- immediatly after birth. After the birth of her sixth and last child, Rhea tricked Cronos into swallowing a rock and then hid the child -- Zeus -- on earth. Zeus grew up on earth and was brought back to Mount Olympus as a cupbearer to his unsuspecting father. Rhea and Zeus connived against Cronos by mixing a noxious drink for him. Thinking it was wine, Cronos drank the mixture and promptly regulated his five other children, fully grown. Then Zeus and his brothers waged a mighty battle Greek Mythology :: essays research papers The Greeks believed that the earth was formed before any of the gods appeared. The gods, as the Greeks knew them, all originated with Father Heaven, and Mother Earth. Father Heaven was known as Uranus, and Mother Earth, as Gaea. Uranus and Gaea raised many children. Amoung them were the Cyclopes, the Titans, and the Hecatoncheires, or the Hundred- Handed Ones. Uranus let the Titans roam free, but he imprisoned the Cyclopes and the Hundred- handed Ones beneath the earth. Finally, Gaea could not bear Uranus's unkindness to the Cyclopes and the Hundred-Handed Ones any longer. Gaea joined Cronos, one of the Titans; and together, they overcame Uranus, killed him, and threw his body into the sea. Aphrodite, goddess of love and beauty, later rose from the sea where Uranus's body had been thrown. Now Cronus became king of the universe. Cronos married his sister, Rhea, and they had six children. At the time of Cronos's marriage to Rhea, Gaea prophesied that one of his children would overthrow Cronos, as he had overthrown Uranus. To protect himself, Cronos swallowed each of his first five children -- Hestia, Demeter, Hera, Hades, and Poseidon -- immediatly after birth. After the birth of her sixth and last child, Rhea tricked Cronos into swallowing a rock and then hid the child -- Zeus -- on earth. Zeus grew up on earth and was brought back to Mount Olympus as a cupbearer to his unsuspecting father. Rhea and Zeus connived against Cronos by mixing a noxious drink for him. Thinking it was wine, Cronos drank the mixture and promptly regulated his five other children, fully grown. Then Zeus and his brothers waged a mighty battle

Banking and Finance Essay

Introduction The automated teller machine (ATM) is a machine that acts as a teller in an institution by receiving and issuing money to and from the ATM account holder or user. The growth and evolution of at ATMs was not only due to, but rather as a result of general global concentration in the technological revolution. This came due to challenges of multiple bulk of daily complex information that arise from existing difficulties like; increase in competition, increase in customer’s demand for both services provision as well as efficiency , expansion due to increase in demand and all the likes just to name a few. The ATM system used by micro financial institutions today is an inherited system from banking system therefore brought in efficiency in different micro financial institutions in terms of speed, data processing and storage. Thus, it brought in enormous improvement in queuing in institutions in use of the ATMs. Despite all the merits of ATMs, customers still bring up complains on the demerits of the system such as; breakdown of ATMs, long queues at the ATM service point, retention of customers cards. In this light, this research entails to find out why all these cries after all the goods incurred in the system. 1.1 Background of the study. 1.1.1 Historical background. The history of micro financial institutions can be trace as far back as the 1880s when the theorist Lysander Spooner was writing over the benefits of from small credits to entrepreneurs and farmers as a way of getting people out of poverty. Today, the use of the expression ‘’micro financing’’ has its root in the 1970s when organisatons were sarting and shaping the modern industry.At that time,many microfinance ini tiatives introduced many new innovations into the sector.Many entreprises began experimenting with loaning to the under served people. The main reason why micro financing is been traced back to the 1970s is that, the programme could show that people can be relied on to pay their loans and that it’s possible to provide financing services to poor people through market based enterprises without subsidies.

Exploring the Concepts of Karl Marx and Mao Tse-Tung Essay

Karl Marx believed that in an industrialized society, the working class, known as the proletariat would revolt and take over the ruling class, and would in effect, create a classless society. Karl Marx believed this could only happen in an industrialized society. Once it became apparent that the working class would not rise above, Lenin intervened and confirmed Marxism obsolete in Russia. Since the late 1920’s the Chinese Communist Party has altered Marxism in China. It became a peasant party with an anti-Marxist petty-bourgeois viewpoint and through all the fluctuations of the left and right turns of world Stalinism, it kept a utopian and reactionary perspective; in Marxist terminology, reactionary refers to people whose ideas might appear to be socialist, but, in essence, contain elements of feudalism, capitalism, nationalism, fascism or other characteristics of the ruling class. It kept a nationally based and classless socialism, or â€Å"peasant socialism,† as worde d by Trotsky. To call Mao Tse-Tung’s communist or Maoist, philosophy socialism is an understatement. Though encompassing many Marxist values, China has done a more effective job of forcing the Maoist agenda through more ruthless violence by utilizing the multitude of peasants residing within its borders as a powerful force, unlike Marxism which calls for a series of revolution by means of class struggle and uprising in the proletariat. Though the Maoist ideology had subsisted in China for some years after his time, today it is an important economic force, but is government-run, leaving it unstable without government regulation as the economy is dominated by large state-owned enterprises, but private enterprises also play a major role in the economy. State-owned enterprises are a major source of profit and power for members of the Communist Party of China and their families and are largely favored by the government. Karl Marx wove economics and philosophy together to construct a grand theory of human history and social change. His concept of alienation, for example, first expressed in his Economic and Philosophic Manuscripts of 1844, plays a key role in his criticism of capitalism. Marx believed that people, by nature, are free, creative beings who have the potential to totally transform the world. But he observed that the modern, technologically developed world is apparently beyond our full control. Marx condemned the free market, for instance, as being â€Å"anarchic,† or ungoverned. He maintained that the way the market economy is coordinated—through the spontaneous purchase and sale of private property dictated by the laws of supply and demand—blocks our ability to take control of our individual and collective destinies. Marx condemned capitalism as a system that alienates the masses. His reasoning was like this: although workers produce things for the market, market forces, not workers, control things. People are required to work for capitalists who have full control over the means of production and maintain power in the workplace. Work, he said, becomes degrading, monotonous, and suitable for machines rather than for free, creative people. In the end, people themselves become objects—robot-like mechanisms that have lost touch with human nature, that make decisions based on cold profit-and-loss considerations, with little concern for human worth and need. Marx concluded that capitalism blocks our capacity to create our own humane society. Marx’s notion of alienation rests on a crucial but shaky assumption. It assumes that people can successfully abolish an advanced, market-based society and replace it with a democratic, comprehensively planned society. Marx claimed that we are alienated not only because many of us toil in tedious, perhaps even degrading, jobs, or because by competing in the marketplace we tend to place profitability above human need. The issue is not about toil versus happiness. We are alienated, he maintained, because we have not yet designed a society that is fully planned and controlled, a society without competition profits and losses, money, private property, and so on—a society that, Marx predicted, must inevitably appear as the world advances through history. Here is the greatest problem with Marx’s theory of alienation: even with the latest developments in computer technology, we cannot create a comprehensively planned system that puts an end to scarcity and uncertainty. But for Marxists to speak of alienation under capitalism, they must assume that a successfully planned world is possible. That is, Marx believed that under capitalism we are â€Å"alienated† or â€Å"separated† from our potential to creatively plan and control our collective fate, but if comprehensive socialist planning fails to work in practice it is an impossibility. In consequence of China’s sizable rural population, the greatest point of conflict between the two lines of thought is Mao’s inclusion of the peasantry in the proletariat differing greatly with the Marxist-Leninist view that the beginning of socialist revolution should come from the urban working class. The Maoist faith in revolutionary enthusiasm and the positive value of the peasants’ lack of sophistication as opposed to technological or intellectual elites fueled the Great Leap Forward of the 1950s and the Cultural Revolution of the 1960s and ’70s. The disastrous consequences of both upheavals led Mao’s successors to abandon Maoism as counterproductive to economic growth and social order. Maoism, since then, has been embraced by insurgent guerrilla groups worldwide. The Communist Party of the Philippines has adopted the ideas and concepts of Maoism which promote the use of revolution to obtain their goals. Professor Jose Maria Sison, the Chairman of the Communist Party of the Philippines states, â€Å"Mao is indubitably correct in identifying the revisionism of degenerates in power in socialist society as the most lethal to socialism, and in offering the solution that succeeded in China for ten years before it was defeated in 1976. The disintegration of the Soviet Union and the full restoration of capitalism in revisionist-ruled countries in the period of 1989-91 have vindicated Mao ´s position on the crucial importance and necessity of the struggle against revisionism and the theory of continuing revolution under pro letarian dictatorship.† The Philippines today practices modern democracy. This shows the sharp difference of ideology within countries. It is shown by Sison’s diction that he is passionate about Communism to the degree that he strongly adheres to Maoist theory by promoting revolution in the proletariat. In 2008, the New People’s Army in the Philippines managed to make 200 tactical offenses and captured 200 high powered rifles. Ka Oris claimed that the group has managed to return to the level of activity of when it was at its peak in the 1980s. The NPA, the armed wing of the CPP, remains the â€Å"biggest threat† to national security according to National Defense Secretary Gilbert C. Teodoro Jr. This shows how Maoism only subsists with sheer violence. They seek to implement their agenda by compromising national security and putting many lives in danger. In order to form a fully Maoist society one needs to realize that the only means of achieving this is by deteriorating the conditions wi thin a county. â€Å"The history of the NPA in Mindanao dates back to 1971 when a handful of inexperienced but determined communists established two cells — one in Iligan and the other in Davao. The years that followed saw it exploit widespread poverty among both indigenous peoples and poor peasants in the countryside, as well as among many Christian settlers.† As one can see, poverty was a result of the attempts made by the NPA to form a communist/Maoist nation; therefore, the effects of revolution in the name of Maoism only worsens the well-being of the people as violence is utilized to oppress the people. Maoism is characterized by an extreme eclecticism and by subjectivism in theory and voluntarism in politics. Many traditional views of ancient Chinese political and philosophical thought have helped nourish Maoist ideology. From the anarchists Mao Tse-tung borrowed such principles as the absolutization of violence (â€Å"Power grows out of the barrel of a gun† and â€Å"To rebel is justified†) and reliance on nonproletarian, declassed elements and politically immature layers of young people to â€Å"organize† revolutions without regard to whether there is a revolutionary situation. According to Maoist declarations, similar revolutions, which in fact are a form of total purging and suppression of the real and potential enemies of Maoism, should be repeated periodically. If the inherent violence that Maoism encapsulates should be repeated, it would lead to the suffering of many people, which makes it unstable to the degree that the government forces outnumber the Maoists: a force that keeps them at bay. The Maoists cannot obtain their goal without the use of hostility, making it immoral and unstable. â€Å"Since 1978 hundreds of millions have been lifted out of poverty [in China] – yet hundreds of millions of rural population as well as millions of migrant workers remain unattended: According to China’s official statistics, the poverty rate fell from 53% in 1981to 2.5% in 2005.† However, in 2009, as many as 150 million Chinese were living on less than $1.25 a day. The infant mortality rate fell by 39.5% between 1990 and 2005, and maternal mortality by 41.1%. Access to telephones during the period rose more than 94-fold, to 57.1% as did in many developing countries such as Peru or Nigeria. This shows inconsistency with data to instill communist propaganda. They only show what they want to. They never display the harsh violence committed in order to execute their agenda, which is also in the roots of Marxist theory. In consequence of Mao’s recognition of th e peasantry as a powerful source of revolution, his political endeavors were largely aimed at rural China and less on urban industrialization. There is a strong emphasis in Maoism placed on the capability of conscious human action to overcome a lack of material resources. This is in reference to what Mao saw as great feats of endurance, such as the Long March and the resistance against Japan during the Sino-Japanese War. According to Mao, the success of such campaigns rested upon the commitment of man, without the aid of technology or material involvement. Complementary to such experiences, Mao naturally developed a theory that highlighted success as a product of the mind, not matter. As such, material goods were not constituent of, or significantly important to Maoism. â€Å"It should be pointed out that in the present conditions, agriculture occupies first place in our economic construction.† Mao was mainly concerned with agricultural production as a means of survival, and saw no political gain from mass industrialization. In fact Mao believed that industrialization weakened the proletarian movement, by creating fu rther means for factory owners and management teams to exploit workers. However the Marxist-Leninist approach to socialist reform which contrasted against Mao’s agrarian views, relied heavily upon the encouragement of advanced industrialization in order to strengthen the sense of proletarian repression. In this sense there was a strong point of conflict over industrial and agricultural production values between Mao and the Russians, which was in direct consequence of the peasants over workers dispute. A fundamental facet of classical Marxist ideology is economic determinism; a concept whereby social change is driven by the economy. However Mao placed a much larger emphasis on the shaping of humankind, and the capacity to change human nature through sheer will power. â€Å"Mao’s real conflict, of course, was not with Russia nor with revisionism, but with human nature.† He believed that the ordinarily extended process of change could be hastened with appropriate stimulation; a positive political frame of commitment and action. While Marx also believed in the evolution of human nature, in contrast to Mao he regarded it to be a process beyond the control of man. Marx developed the theory of material determinism, which suggested that the economy is essential to social change and the development of human nature, a relationship almost ignored by Mao. Features of society such as classes, politics and ideologies were seen by Marx to be outgrowths of economic activity, whereas Mao regarded changes to such features as a result of human will. â€Å"[Mao’s] process of remolding human beings†¦[is] almost in defiance of orthodox Marxist historical and material determinism.† However what is generally agreed upon by Marx and Mao, despite the way in which it is done, is that this remolding of humankind could take many revolutions, which led to the development of the ‘continuous revolution’ theory, a concept whereby the proletarian’s struggle against the bourgeoisie is everlasting. Basically, the goals of Mao, Lenin and Marx were alike in terms of achieving a classless socialist society; there were distinct contrasting elements within the paths chosen to achieve these aspirations. Mao believed in the revolutionary and violent power of the abundant peasantry class, whereas the Marxist-Leninist approach to socialist revolution was to lead from the urban working classes. Resulting from this major disagreement came differing views on industrialization and urbanization, Mao tending to pay closer attention to agricultural development which was a large factor in China, and the Russians to urban development. There was also ignorance on Mao’s behalf of the nature of economics, a subject of which Marx was an expert which is most likely the reason why there is little on economics found on Maoism. Marx recognized the economy as a major driving force in social development, whereas Mao regarded human nature as something that could be changed by will. However while Mao may not have attempted to achieve socialism as Marx intended, a great difference between Russia and China during the twentieth century made such a turn away from classical Marxism to some extent. One could claim that Marxism has never truly been achieved in any setting, and with both China and Russia now leaning more towards capitalism, it leads one to question whether given the nature of humankind, such change is even possible; however, it can be concluded that both doctrines encapsulate instability and hostility, creating an oppressive environment.