giovedì 26 aprile 2018

Lesson_6_2018

Language revision: Company law
  • limited liability
  • sole propriator
  • third party
  • constitutional documents
  • corporate funding
  • public listed company
  • not personally liable for
  • debts and liabilities
  • double taxation
  • enjoy many advantages
  • benefits and drawbacks
  • advise on the best form your business should take


The Companies Act 2006 is an act of parliament that currently serves as the primary source of company law in the UK. This particular act has the distinction of being the longest in the history of British Parliament, containing 1,300 sections that span over 700 pages, with a list of contents that is 59 pages long. The act also contained 16 schedules, but those have since been superseded by the Corporation Tax Act of 2009.
The provisions of the act were implemented gradually in stages, with the final provision being put into force on October 2009. Changes were made to almost every aspect of UK company law, but the following are the key components of the act:

  • Introduced new provisions for public and private companies
  • Implemented the European Union’s Transparency Obligations and Takeover Directives
  • Codified numerous existing common law principles, including those related to directors’ duties
  • Amended or restated almost all aspects of the Companies Act 1985
  • Applied a single unified company law regime for the entire UK, replacing the previously used 
  • Separate systems for Northern Ireland and Great Britain 



Commercial law covers a very wide body of law which includes: 
  • contract law, 
  • company law, 
  • tax law,
  • intellectual property law.

Reading 1_commercial law  pp. 60-61 - ex 2-4 
Language Use: Adverb  functions pp 62-63 ex 7-8
Bodies of Law that govern Trade and Commerce

Listening 1: Profile of  a commercial lawyer page 62 ex 5-6
Text Analysis: Letter of application for an internship pp 63-64 ex 11-13
Reading 2- 3 - 4 -





Reading_3 Role of Commercial agents
  • commercial agency agreement
  • to give agents greater protection
  • under EU law
  • good and services
  • provision of services/a service
  • on behalf of/in the name of 
  • flat rate
  • paid on commissions
  • indipendent intermediaries 
  • authority to negotiate
  • provide a convenient structure
  • the principal can benefit from 
  • on commissions basis " no cure, no pay" basis
  • to build sales volume
  • temptation to circumvent 
  • come to an end
  • significant new customer base
  • to take advantage of the goodwill 
Self study
  • Reading_4 Commercial agency contract
  • Language Focus page 71 

giovedì 19 aprile 2018

Lesson_5_2018

Language Focus: prepositions
to be arrested ___
to be accused ___
to bring an action ___
to be convicted ____
to be sentenced ___
to have an effect ___
to have an impact ___
to be put ___ probation 
to serve ___ the bench
to serve ___ the governing board of a corporation 
to comply ____ the law
____compliance _____ 




Introduction to Company law
  • Reading 1 pp 50-51 ex 1-3


Partnerships vs Companies or Corporations


Partnership 
Limited partnership with shares= società in accomandita per azioni
Limited Partnership = società in accomandita semplice
General Partnerhip = Società in nome collettivo

Società di Capitali= Società di Capitali
Limited by Shares (plc + Ltd)
Public Company Limited by Shares (plc) = Società per azioni
Private Company Limited by Shares (Ltd) = Società a responsabilità limitata.
Setting up a company in the UK - how easy/difficult is it?

It's quite difficult to find a clear correspondence with the Italian companies especially with srl ones.
Le quote della nostra srl non sono definibili shares ma quota(s), il titolare di quote sarà definito quotaholder. In riferimento al capitale della società non potrò parlare di share capital ma di corporate capital.

The situation improves when it comes to plc (or Ltd) : Il capitale sociale è definito share capital (oppure, con terminologia americana, capital stock), i soci azionisti sono shareholders (o, sempre nella versione U.S.,stockholders) e così i principali organi sociali, quali il consiglio di amministrazione – board of directors – e l’assemblea degli azionisti – shareholders’ meeting.


- board/panel of internal auditors/statutory auditors  = sort of Collegio Sindacale  
 managing director or C.E.O. (Chief Executive Officer) = amministratore delegato
-  incorporation process: 
  • ’atto costitutivo – memorandum of association/articles of incorporation 
  • lo statuto – articles of association/bylaws 
  • iscrizione al registro delle imprese locale – registration



Last but not least.... 
procedure concorsuali – insolvency proceedings 
tassa societaria - corporation tax


That means, when in Italian we refer to a private limited company o  private company limited by shares (Ltd.) we have to talk about:+
- shares quote sociali o di partecipazione
- shareholders soci 
- share capital - capitale sociale
mentre parlare di azioni, azionisti o capitale azionario riferendosi ad una Ltd. sarebbe un errore, per i motivi sopra esposti.
On the other hand, when we in Italian want to refer to a  public company (Plc.) we have to talk about:
shares azioni,
- shareholders azionisti e
- share capital - capitale azionario.
Company act 2006 è una completa codificazione della legge sulle società in Inghilterra e Galles 
  • Reading_3: Breach of Companies Act 2006 pp54-55 ex 12-15
  • Key terms_2: Public relations page 56 ex 20
  • Text analysis: Reading a statute page 57 ex 21-23



Self Study
  • Listening 1 + Listening 2  highly suggested
  • Language Focus pag 59 ex 1-3
  •  Listening 2  Ref section 172 Company Act 2006

Extra exercises_company law  page 328 ex 2; page 330 ex 2; pp 333-334 ex 1,2;page 337 ex 1; pp 339-341 ex 1, 2 Toles foundation practice page 345 ex 1, 2
EXTRA: If you like to investigate more the area of company law
Review of Italian and UKCompany Law.  A joint study by. Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili.