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| Corporate practice bd |
01. Articles of association
The articles of association is also a
document which contains rules, regulations and by laws regarding the inner
management of a corporation.
Articles must not violate any provision of the memorandum or any provision of the
companies ACT-1994.
Requirements of articles:
01.Form of articles
02.Contents
03.Signature & attestation of articles
Contents of Articles of Association
01.Full name of the corporate
02.Daily function and rules of management
03.Name address & description of director& director
04.Responsibility ,duties power of director & MD
05.Numbers of directors
06.Appointment rules of manager & secretary
07.Remuneration of director
08.Number & qualifying share of director
09.Recognized share capital & identifying nature of of share
10.Per value & payment system of share
11.Term & condition of share forfeiture
12.Commission of share underwriter
13.Voting system of meeting
14.Dividend procedure
15.Alteration of share capital procedures
16.Transfer & transmission of share
02. What does one mean by voluntary concluding ?
Ans:-
When, the members of a corporation voluntarily windup the
corporate is named Voluntary effecting. As per the
corporate Act-1994 describes the circumstances, during which the
corporate may finally end up voluntary as follows,
01. If the corporate normally meeting has
passed the standard resolution for voluntary completing for the
subsequent reasons.
02. If period is fixed and it's expired.
03. If any event occurs, on the happening of which the articles provide
that the corporate is to be dissolve.
04. If the corporate resolves by special resolution
that the corporate be aroused voluntarily.
05. If the corporate resolves by extra ordinary resolution to
the effect that it cannot by reason of its liabilities continue its
business which is advisable to windup.
03.What does one mean by Money laundering?
Ans:-
When money is obtained from criminal acts like drug trafficking or
illegal gambling, the money is taken into
consideration “dirty” during this it should seem
suspicious if deposited directly into a bank or other institution..
Therefore concealing means running the money through variety of
legitimate businesses before depositing it. Because the act is
specifically wont to hide illegally obtained money, it too is
unlawful.
Money laundering techniques:-
Large scale criminal groups may use complex concealing techniques so
as to avoid detection. Such concealment techniques
may include:
01.Transferring money from bank to bank or from account to account
02. Breaking up large amounts into smaller bank deposits
03 .Transferring or concealing the source of the money through
complex or multiple transactions
04. Purchasing money orders in smaller money amounts.
05. Returning the cash back to the financial
world in order that it appears legitimate.
For example,
Sally steals an oversized amount of money from
her business. She wants the money to go undetected, so rather
than making one large deposit into her savings or banking account, she
breaks the money up and deposits one bit every
week. This ensures the bank doesn't look at her
transaction suspiciously since it's uncommon for her to
deposit large sums of cash.
04.What does one mean by Adjourned Meeting?
Ans:-
When participants sit for a selected Meeting With specific
Agenda but cannot for varies reasons e.g. want of quorum, lack of your
time, difference of in opinion, external interruptions etc, conclude the
meeting, it's called adjourned until the subsequent session.
Generally it's the chairman of the meeting who declares the
adjournment.
Its certain criteria for an adjourned meeting. Those are
01. It's not a brand new meeting but merely
a continuation of the first meeting .
02. For an adjourned meeting no notice is required when meeting is
adjourned for fewer than 10 days.
03. No quorum is critical. this suggests any
number of attendants will form quorum.
04. An adjourned meeting can only discuss the things unresolved within
the previous session.