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OH 1

Contractual Capacity of Business Entities. OH 1. Introduction. Name Position Experience with regard to Credit. OH 2. Learning Outcomes. Analyse the Rules Pertaining to a Company Analyse the Rules Pertaining to a Close Corporation Analyse the Rules Pertaining to a Co-operative

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OH 1

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  1. Contractual Capacity of Business Entities OH 1

  2. Introduction • Name • Position • Experience with regard to Credit OH 2

  3. Learning Outcomes • Analyse the Rules Pertaining to a Company • Analyse the Rules Pertaining to a Close Corporation • Analyse the Rules Pertaining to a Co-operative • Analyse the Rules Pertaining to a Trust • Analyse the Rules Pertaining to an Informal and a Governing Body OH 3

  4. Learning Objectives • Analysing the Rules Pertaining to a Company by: • Comprehending the legal nature of a Company • Interpreting the formation of a Company • Comprehending the types of Companies • Comprehending Company communication, officers and capital • Interpreting the advantages and disadvantages of a Company • Examining accounting and taxation requirements of a Company • Examining the limitations of the Act and the Banking requirements of a Company OH 4

  5. Learning Objectives (Continued) • Analysing the Rules Pertaining to a Close Corporation by: • Comprehending the legal nature of a Close Corporation • Interpreting the formation, membership and capital of a Close Corporation • Interpreting the advantages and disadvantages of a Close Corporation • Examining accounting and taxation requirements of a Close Corporation • Examining the limitations of the Close Corporations Act and the Banking requirements of a Close Corporation OH 5

  6. Learning Objectives (Continued) • Analysing the Rules Pertaining to a Co-operative by: • Comprehending the legal nature of a Co-operative • Interpreting the formation, membership and capital of a Co-operative • Interpreting the advantages and disadvantages of a Co-operative • Examining accounting and taxation requirements of a Co-operative • Examining the limitations of the Co-operatives Act and the Banking requirements of a Co-operative OH 6

  7. Learning Objectives (Continued) • Analysing the Rules Pertaining to a Trust by: • Comprehending the legal nature of a Trust • Interpreting the formation, documentation and membership of a Trust • Interpreting the advantages and disadvantages of a Trust • Examining accounting and taxation requirements of a Trust • Examining the Banking requirements of a Trust OH 7

  8. Learning Objectives (Continued) • Analysing the Rules Pertaining to an Informal and a Governing Body by: • Comprehending the types of Informal Bodies • Examining the Banking requirements of an Informal Body • Examining the Banking requirements of a Governing Body of a Sectional Title OH 8

  9. Criteria • Analyse the Rules Pertaining to a Company • Define a Company • Describe a Company as a legal entity • Describe the formation of a Company • Define the Memorandum of Association • List the contents of the Memorandum of Association • Define the Articles of Association • List the contents of the Articles of Association • Define share capital OH 9

  10. Criteria (Continued) • Analyse the Rules Pertaining to a Company • Differentiate between a Public Company with share capital and a Private Company with share capital • List the criteria for a Company Limited by Guarantee • List the criteria for a Section 21 Company • List the responsibilities of a Company Secretary • Define the role of a Director of a Company • List the obligations of a Director of a Company • List the individuals who may not be appointed as a Director of a Company • Describe the capital of a Private Company • Describe the capital of a Public Company OH 10

  11. Criteria (Continued) • Analyse the Rules Pertaining to a Company • List the advantages of a Company • List the disadvantages of a Company • List the contents of the annual financial statements of a Company • Describe the taxation of a Company • Describe the liability of the members of a Company • Describe the powers of a Company if they have accepted Section 34 and Schedule 2 of the Act without amendments • Describe the relationship between: • A Holding Company • A Subsidiary Company • A Co-subsidiary • A Sub-subsidiary OH 11

  12. Criteria (Continued) • Analyse the Rules Pertaining to a Company • Describe Section 37 of the Act • Describe the prohibition of Section 38 of the Act • List the implications of Section 38 for the Bank • Describe the purpose of Section 226 of the Act • List the transactions which are in terms of Section 226 of the Act: • Absolutely prohibited • Conditionally permissible • Unconditionally permissible • Judge the contractual capacity of a Company OH 12

  13. Criteria (Continued) • Analyse the Rules Pertaining to a Close Corporation • Define a Close Corporation • Describe a Close Corporation as a legal entity • Describe the winding-up of a Close Corporation in terms of Sections 68 and 69 of the Act • List the registration requirements of a Close Corporation • List the contents of the Founding Statement of the Corporation • List the requirements of the members of a Close Corporation • Describe the liability of the members of a Close Corporation • List the individuals who may not participate in the management of a Close Corporation • Describe the capital of a Close Corporation OH 13

  14. Criteria (Continued) • Analyse the Rules Pertaining to a Close Corporation • List the advantages of a Close Corporation • List the disadvantages of a Close Corporation • List the records and registers to be kept and maintained by a Close Corporation • Describe the taxation of a Close Corporation • Describe the limitations of the Close Corporations Act with regard to: • Section 40 • Section 52 • Section 55 • Judge the contractual capacity of a Close Corporation OH 14

  15. Criteria (Continued) • Analyse the Rules Pertaining to a Co-operative • Define a Co-operative • Describe a Co-operative as a legal entity • Describe the winding-up of a Co-operative • Describe the formation of a Co-operative • Differentiate between the membership of the three types of Co-operatives • Describe the liability of the members of a Co-operative • List the advantages of a Co-operative OH 15

  16. Criteria (Continued) • Analyse the Rules Pertaining to a Co-operative • List the records and registers to be kept and maintained by a Co-operative • Describe the taxation of a Co-operative • Describe the liability of the members of a Co-operative • Describe the limitations of the Co-operatives Act with regard to: • Section 49 • Section 52 • Section 53 • Judge the contractual capacity of a Co-operative OH 16

  17. Criteria (Continued) • Analyse the Rules Pertaining to a Trust • Define a Trust • Describe a Trust as a legal entity • List the requirements for a valid trust • Describe the Trust Instrument • Describe the parties and their respective roles in a Trust • List the two main types of Trusts • Define a Business Trust OH 17

  18. Criteria (Continued) • Analyse the Rules Pertaining to a Trust • List the advantages of a Trust • List the disadvantages of a Trust • List the accounting records to be kept by a Trust • Describe the taxation of a Trust • Describe the liability of the members of a Trust • Judge the contractual capacity of a Trust OH 18

  19. Criteria (Continued) • Analyse the Rules Pertaining to an Informal and a Governing Body • Define an Informal Body • List the types of Informal Bodies • Describe the contractual capacity of an Informal Body • Define a Governing Body of a Sectional Title • Describe the Contractual Capacity of a Governing Body OH 19

  20. Assessment Type & Definition Methods to be used When Formative Assessment: These assessments will include the assessment of some aspects/ components of a learning process and are linked to specific learning outcomes. It will also include feedback to the learner in preparation for a summative assessment. • Exercises/Activities in your Learner Guide – or E-learning • Discussions with your • coach • Discussions with your • fellow learners / • colleagues During the learning process As per your assessment plan Summative Assessment: This assessment will incorporate the assessment of all aspects / components to conclude the learning process, with the understanding that the learner is ready to be assessed. It is also linked to specific learning outcomes. Performed by Trained Assessors Assessment OH 20

  21. Symbols Used OH 21

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