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CORP KIND OF COMPANIES 1 (1)

The document outlines various types of companies, including Chartered Companies, Statutory Corporations, Registered Companies, Foreign Companies, and Government Companies. Chartered Companies are formed by investors for trade and exploration, often under a royal charter, while Statutory Corporations are created by statute and may vary by jurisdiction. The document also provides examples of each type, highlighting their characteristics and purposes.

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Haider Jaffar
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9 views

CORP KIND OF COMPANIES 1 (1)

The document outlines various types of companies, including Chartered Companies, Statutory Corporations, Registered Companies, Foreign Companies, and Government Companies. Chartered Companies are formed by investors for trade and exploration, often under a royal charter, while Statutory Corporations are created by statute and may vary by jurisdiction. The document also provides examples of each type, highlighting their characteristics and purposes.

Uploaded by

Haider Jaffar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CORPORATE LAW :

KINDS OF COMPANY

Dr. Aisha Javeria

Dr. Aisha Javeria


Kinds of Company

• Chartered Company
• Statutory Corporation or company
• Registered Company
• Unregistered Company
• Foreign Company
• Government Company
• Private Company
• Public Company
• Holding Company
• Subsidiary Company
Dr. Aisha Javeria
Chartered Company

Definition of chartered company:


• A chartered company is an association formed by
investors or shareholders for the purpose of trade,
exploration and colonization

Dr. Aisha Javeria


Chartered Company - contd
• Chartered Companies enabled merchants to band together to
undertake ventures requiring more capital than was available to
any one merchant or family.
• Typically, these companies were formed from the sixteenth
century onwards by groups of European investors to underwrite
and profit from the exploration of Africa, India, Asia, the
Caribbean and North America, usually under the patronage
of one state, which issued the company's charter.
• Chartered companies enabled states to use private resources
for exploration and trade beyond the means of the limited
resources of the treasury, which is a liberal form of indirect
rule; some companies did themselves employ a form of
indirect rule of territories through traditional leaders, such as
princely states with whom they made treaties.

Dr. Aisha Javeria


Dr. Aisha Javeria

Chartered companies were usually formed, incorporated and


legitimized under a royal or, in republics, an equivalent
government charter. This document set out the terms under
which the company could trade;
defined its boundaries of influence, and described its rights and
responsibilities.
• For example, the charter of the British South Africa
Company, given by Queen Victoria, allowed the
company to:
• Trade with African rulers
• Own, manage and grant or distribute land
• Raise its own police force
• In return, the British South Africa Company agreed to
develop the territory it controlled; to respect existing
African laws; to allow free trade within its territory and to
respect all religions.
Dr. Aisha Javeria

Some popular Chartered Companies:


• British crown charters
• 1711 South Sea Company
• 1792 Sierra Leone Company
• 1752 African Company of Merchants (abolished 1821)
• 1824 Van Diemen's Land Company
• 1835 South Australian Company 1839 New Zealand Company
• 1847 Eastern Archipelago Company 1881 British North Borneo Company
• 1886 Royal Niger Company 1889 British South Africa Company
• English crown charters
• 1407 Company of Merchant Adventurers of London 1577 Spanish
Companies
• 1553 Company of Merchant Adventurers to New Lands 1579 Eastland
Company
• 1581 Turkey Company 1588 Morocco Company
• 1600 East India Company (HEIC) 1604 New River Company
• 1605 Levant Company 1606 Virginia Company
• 1609 French Company 1610 London and Bristol Company
Dr. Aisha Javeria

2. Statutory Corporation or Company:


• A statutory corporation is a corporation created by statute.
Their precise nature varies by jurisdiction thus they might
be ordinary companies/corporations owned by a
government with or without other shareholders, or
they might be a body without shareholders which is
controlled by national or sub-national government to the
(in some cases minimal) extent provided for in the
creating legislation
Dr. Aisha Javeria

Bodies described in the English language as


"statutory corporations" exist in the following
countries in accordance with the associated
descriptions (where provided).
Examples:
State Bank of Pakistan
National Bank of Pakistan
Pakistan Television
Lahore Transport Company
Metro Bus Company
Institute of Cost & Management Accountants
of Pakistan
Dr. Aisha Javeria

3.Registered Company:
Registered company is a company that is registered under
a specific law of a country. In Pakistan the companies are
registered under the companies’ ordinance 1984. Following
are the companies:
• Company limited by shares
• Company limited by guarantee
• Unlimited company
• Associations Not for profit
Dr. Aisha Javeria

4. Foreign Company:
• “Foreign company” means a company incorporated
outside Pakistan and has established a place of business
in Pakistan.
• Examples:
• ICI
• Nestle
Dr. Aisha Javeria

5. Government Company:
• A government company is the one whose 51% shares are
held by government.
For example

State Bank of Pakistan.


Dr. Aisha Javeria

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