Employment Law: Formation, Consequences of Corporate Personality, Winding Up, and Directors' Responsibilities

Employment law

Table of Contents
Part 1................................................................................................................................................3
Question 1....................................................................................................................................3
Question 2....................................................................................................................................3
Question 3....................................................................................................................................3
Question 4....................................................................................................................................3
Part 2................................................................................................................................................3
References........................................................................................................................................6

PART 1
Question 1
Formation of the company is a procedure in which business is registered as a limited company
under the law. By this process, business is developed into a separate legal entity. Further, the
procedure of formation is also called as company registration and company incorporation.
The procedure of company formation is very easy; just one person is necessary, and the whole
process is done online. All the related applications are forwarded automatically to the
companies’ house, and it is approved within 3 hours (Tran et al. 2015). For making the
registration done into a private limited by guarantee or shares following things are needed-
A distinctive name of company, address of registered office in Scotland or Northern Ireland and
England and Wales, Minimum of one director (manager), minimum of one investor or guarantor
(owner) and it can also be the director, Memorandum and articles of association (central
documents), Share capital of at least one issued share (limited by shares companies only) and Up
to four Standard Industrial Classification (SIC) codes to explain the activities of the business.
A broad range of online company formation packages are offered by the rapid formations for
making the registrations of a limited company or LLP in Scotland or Northern Ireland and
England and Wales. Additionally, they offer a number of specialized company address services
in London and Glasgow, as well as a Registered Office Service, a Business Address and a
Service Address (Egels-Zandén and Rosén, 2015).
Question 2
The consequences of a corporate personality have a major effect on business and its associates.
First of all, its impact is on ownership of property that could be a feature of safety with company
that is holding the possessions in its own name. Further, it provides the needed protection to
employees and shareholders that can be occurred through probable negligence of directors.
(Furnham, and Gunter, 2015). Further, company has separate legal identity and image in market
as well as in eyes of law. With this liabilities of owner will be limited and operations of business
will be governed by Companies laws.