Your Legal English Pill - UK companies

Private Limited Company ( Ltd)- privately owned
Romanian equivalent -S.R.L.

Public Limited Company ( plc)- publicly traded
Romanian equivalent -S.A.

Description

Entity: Ltd
Liability of owners: Generally no personal liability of the members for obligations of the business

Capital contributions: No minimum share capital requirement. Capital can be raised through the issuance of shares to members or through a guarantee.

Management: Managed through its managing director or the board of directors acting as a whole.


Entity: PLC

Liability of owners: No personal liability; liability is generally limited to shareholder contributions

(i.e. consideration for shares)

Capital contributions: The minimum share capital of £ 50,000 is raised through issuance of shares to the public and/ or existing members

Management: Managed by the board of directors; shareholders have no power to participate in management.


( Source: INTERNATIONAL LEGAL ENGLISH by Amy Krois-Lindner and Translegal,CUP., 2006. UNIT 2 : Company formation and management) 

Autor: prof. IULIA DUMITRÃCHESCU
CO-LIBRIS ED LANGUAGE SCHOOL
office@co-libris.ro