A Limited Company (Leaving Cert Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Definition of a limited company
Definition of a limited company
Owners liable for debts only to extent of capital invested
Act governing limited companies in Ireland
Act governing limited companies in Ireland
Companies Act 2014
Body that registers limited companies
Body that registers limited companies
Companies Registration Office (CRO)
Maximum shareholders in a private limited company
Maximum shareholders in a private limited company
149 shareholders
Control principle in limited companies
Control principle in limited companies
One share, one vote
Liability of shareholders in limited company
Liability of shareholders in limited company
Limited - only liable for their initial investment
Continuity of existence benefit
Continuity of existence benefit
Company continues despite ownership changes or death
Disadvantage: filing requirement
Disadvantage: filing requirement
Must file annual returns and accounts
Minimum directors required for a DAC
Minimum directors required for a DAC
Two directors
Activity restriction for DACs
Activity restriction for DACs
Limited to operating within specific established purpose