5 Risks you might face when closing down your Company in Cyprus
|
|
- Frederica Jordan
- 8 years ago
- Views:
Transcription
1 5 Risks you might face when closing down your Company in Cyprus There are many reasons you might decide to close down your Company but whatever the reason, there are some measures you need to take to protect yourself, your credit, and your reputation, but also to make sure that your Company is closed down legally and permanently. Things that might go wrong: 1. Not meeting the deadline Whatever the reason for wanting to close down your Company, it is normally a matter of urgency. There is usually the need to quickly release the assets attached to the Company, whilst also minimising any expenses and taxes for the final maintenance of the structure and ensuring that such costs are not incurred for more time than is absolutely necessary. Therefore, it is important that the procedure starts immediately once the decision is taken to close down. Also, with regards to timing, it is essential that the time between the commencement and the end of the procedure does not take more time than it should, otherwise you become exposed to various risks that may delay the process even further. 2. Not doing it correctly Having established that time is of the essence, we may go on to say that doing things correctly will actually save you time. Firstly, if the Company was compliant with all its statutory duties during its life span, then it is possible that about 60% of the timing issues are already under control, which is good news. However, most of the time delays are caused because there are returns pending submission with the Companies Registrar, the Tax Authorities, the Social Insurance, etc. Such pending issues could take a significant time to bring up to date, thus delaying the commencement of the closing down procedure. Another matter that may cause delay is the disposal of the assets of the Company. Again, issues of compliance may come in to play here, which will depend on the work that was performed during the life of the Company, and not just at the end.
2 Moreover, choosing the procedure that is appropriate for your case may also prove to be time saving. Usually, the first response to a request to close down a Company quickly would be to proceed with a strike-off, which in most jurisdictions is considered as the fast track closing down procedure. However, if one knew beforehand that in Cyprus the waiting period for a Company s application to be reviewed for strike-off takes on average 3 years, plus a couple more months for a Certificate of Dissolution to be issued, one could reasonably conclude that the fast track is not actually fast after all. On the other hand, voluntary liquidation takes an average of 6-9 months from start to finish, depending on the complexity of the case, and is often highly more efficient and can bring lower risk exposure. In reality the two options do not differ a lot, considering that up to a point the procedures are the same, at least if they are followed correctly. Whether the Company is going for strike-off or for voluntary liquidation, there is still the requirement to update the financial statements of the Company, request tax clearance, update the Companies Registrar records, to send notices, etc. After submitting everything, when going for strike-off, you simply wait for the certificate of dissolution, which as we mentioned earlier may take at least three years to receive. When going for voluntary liquidation, there are a few more steps that the Liquidator must perform, such as settling the Company s affairs, informing the Shareholders, sending out notices, etc., all such matters could be completed within 6 months, depending on the complexity of the affairs. In addition, when considering that the disbursements for voluntary liquidation are less, the scales definitely tip towards choosing this procedure.
3 Liquidation Vs Strike-off an overview Liquidation Strike-Off Timing 6-9 months from the date of disposal of assets years from the date of disposal of assets Cost Sustainability Slightly higher initial costs, but maintenance costs are borne for a shorter period Right to appeal to court to revoke the liquidation within two years from dissolution Lower initial costs, however maintenance costs are applicable for a greater period Possible to reinstate company after the request of creditors, Registrar or other authority within 20 years from dissolution Procedure Several steps involved Very few steps involved From experience, we have noticed that Company owners usually prefer the liquidation procedure because it is a permanent solution, but mainly because it is completed within a year (sometimes less, if the disposal of the assets is done promptly), even though the fees might be a little bit higher than as for strike-off. Closing down a Cyprus Company methods as handled by Fiducenter 3. Unexpected requests from the Taxman The management of your Company affairs up to the point you decide to close it down, is of paramount importance, both from a compliance and diligence point of view and especially with regard to tax liabilities. A fact that is usually overlooked is that the tax assessments are carried out by the Tax authorities with an approximate three year delay (from the date of the filing of the tax return). This means that, in the future, there is a chance that the Taxman may come with a tax claim and surprise you, because one or more treatments adopted in the tax returns was incorrect in his view. For example, there is an overarching principle that expenses are allowable for tax purposes only if they are incurred wholly and exclusively for the purposes of the trade. The Tax authorities might question even the simplest of expenses, either in total, or to a partial extent. That is why it is best to obtain tax rulings, especially in more complex instances.
4 4. The return of unhappy Creditors As with unexpected tax liabilities, the same goes for Creditors that perhaps you had a dispute with or who didn t get the chance to invoice everything due for their services rendered; they may show up unannounced. Also, liabilities might arise because of different interpretations of agreements, because of guarantees, contingent liabilities, conditional clauses as per agreements and in general from the different transactions a Company undertakes during its existence. Perhaps it is a remote possibility, but it is a possibility and one that could be minimised if your service provider made sure your Company was compliant with its statutory duties and the Company s financials were up to date at all times. 5. Increased costs Whatever the reason for wanting to close down your company, it is usually a matter of urgency and cutting costs. However, if the necessary procedures are not correctly followed, the cheap solution may end up costing you more in the long-run; just imagine paying a hefty invoice to close down your Company and leaving yourself exposed to the situations outlined above! Case Study Client Ltd is a Company incorporated in Cyprus for the purpose of holding a portfolio of investments of a large international group of companies. In November 2012, after a successful run, the beneficial owners of the Company decided to close it down by the end of the year. Their service providers, Best Trust Ltd., assured them that the Company would be closed down by the end of the year, as it was important that the Company did not show in the financials of the Group for After a loaded invoice was paid, the providers confirmed on 27 December 2012 that the Company was no longer in existence. A certificate was to be issued to that effect in the coming days, but it might be delayed a little due to the holiday season. A few months later, a notice was received from the Tax authorities for filing the Company tax return for An employee of Best Trust Ltd threw the notice away, thinking that the Company was no longer liable to report such matters, since it had been dissolved (according to the company s status on their client system). In December 2013, a letter was received from the Tax authorities whereby it informed the Directors (former) of the Company that penalties were being imposed for non-submission and non-payment of their tax liabilities. A few days later, the Company was served at the registered office (former) with a court order to settle an outstanding amount of EUR 56,000 due to Alpha Brokers Ltd for commissions and fees, which were invoiced earlier that year, for services offered in Why do I keep getting notices for my company that you closed down for me last year?
5 The beneficial owners of Client Ltd were rattled, and made an enquiry with Best Trust Ltd., as to how it was possible to receive such notices since the Company was dissolved almost a year ago. The director of Best Trust Ltd replied to their clients, explaining that there had been a misunderstanding in their communication. He claimed that they never confirmed that the Company was dissolved, but that they had asked for the Company to be dissolved by the end of the year by sending a letter to the Registrar of Companies, explaining that the Company had ceased its operations and that it became dormant from that point onwards. The fact was that their application was not processed, as these kind of applications have a waiting period of 2-3 years (again, if you are lucky), meaning that the Registrar will eventually strike-off the Company, but not earlier than Sorry, there has been a misunderstanding Moreover, even if there hadn t been a delay at the Registrar and the strike-off was effective immediately upon request, the Tax Authorities, as well as Alpha Brokers Ltd, would still be able to proceed with their claims by asking for the Company to be reinstated. They could even take it a step further and challenge the strike-off altogether, on the basis of it being unlawful. In the end, Client Ltd were liable to pay the outstanding taxes (plus penalties and accrued interest), the outstanding invoices of Alpha Brokers Ltd, they were obliged to update their financial statements and undergo audits for 2012 and 2013, make new submissions for 2013 as well as go through the voluntary liquidation procedure after all! Needless to say, the increased costs and delays did not sit well at all with the Group and were far in excess of initial estimations. To add insult to injury, Client Ltd also had to pay for undertaking the procedure from the very start, but this time with a new service provider, as, understandably, they did not want Best Trust Ltd to do the job. Is there a way to avoid the agony? Yes - You should follow these steps to close your business safely and legally: Make sure that everything is up to date. Make sure that the procedure proposed to you is the correct one for your case. Make sure that you get regular updates from your provider so that you can track that the procedure is going as planned and according to schedule. Choose your associates wisely choose associates with experience, integrity and professionalism.
6 At Fiducenter we have been providing our clients with international business solutions and professional services since Founded in Luxembourg and with presence in four of the most attractive financial and business centres in the world, we find solutions for the most complex and demanding of situations. Exceeding our clients expectations is the essence of our culture, while also ensuring not to compromise our own values and principles. We are licensed and regulated as applicable; aiming to surpass regulatory requirements, believing that a stronger control environment can streamline our organisation and ensure the highest quality of service is achieved. Our clients are longstanding and loyal, and have grown with us. We hope that we can be of service to you and your business. With regards to dissolutions specifically, we have a solid experience having closed down more than 100 entities in the last 3 years. Also, we have strong established relationships with officials in the various Government departments that helps make the process smooth and without surprises. Our relations, together with our experience and professionalism, make the absolute combination of assets that you would want your associates to have when engaging them to close down your company with minimum risk. Fiducenter April 2014 All rights reserved. No part of this publication may be reproduced, sorted in a retrieval system, or transmitted, in any form or by means, electronic, mechanical, photocopying, recording or otherwise, without the prior written consent of Fiducenter. The information provided in this publication does not constitute legal, tax or investment advice and no responsibility is accepted for any loss occasioned directly or indirectly as a result of persons acting, or refraining from acting, wholly or partially in reliance upon it. All characters/names appearing in this work are fictitious. Any resemblance to real persons/entities, living or dead, are purely coincidental.
BVI Financial Services Commission. Registry of Corporate Affairs. User Guides on the BVI Business Companies Act. User Guide No. 5
BVI Financial Services Commission Registry of Corporate Affairs User Guides on the BVI Business Companies Act User Guide No. 5 Striking off and Liquidation of Companies Under the BVI Business Companies
More informationPreface 2. 1. Members Voluntary Liquidation 3. 2. Striking Off Upon Request 3. 3. Striking Off Without Consent 3. 4. Conclusion 4
Voluntary Liquidation & Striking Off of a Company Contents Preface 2 1. Members Voluntary Liquidation 3 2. Striking Off Upon Request 3 3. Striking Off Without Consent 3 4. Conclusion 4 Preface The Companies
More informationA GUIDE TO COMPANY INSOLVENCY & LIQUIDATION
A GUIDE TO COMPANY INSOLVENCY & LIQUIDATION P: (09) 551 3631 E: admin@norrie.co.nz W: norrie.co.nz Contents Introduction... 2 Definitions... 3 Meaning of Board... 3 Meaning of director... 3 Meaning of
More informationMUSIC RESOURCES TERMS AND CONDITIONS FOR SCHOOLS ( Conditions )
MUSIC RESOURCES TERMS AND CONDITIONS FOR SCHOOLS ( Conditions ) Please ensure all relevant staff have read and understood these Conditions before signing. Please complete, sign and return the Music Resources
More informationDAVID THOMAS LTD GUIDE TO COMPANY INSOLVENCY
DAVID THOMAS LTD GUIDE TO COMPANY INSOLVENCY Ver 1 Feb 2015 Phone : 09-215-6893 07-576-8832 021-124-6689 Email: david@david-thomas.co.nz Introduction Welcome to our guide to liquidations. This guide is
More informationGUIDE. Guide to Winding Up of Solvent and Insolvent Jersey Companies
GUIDE Guide to Winding Up of Solvent and Insolvent Jersey Companies TABLE OF CONTENTS PREFACE...2 1. Summary Winding Up...3 2. Creditor s Winding Up...3 3. Bankruptcy...4 4. End of Period of Duration...5
More informationStandard terms of business
31a Charnham Street, Hungerford, Berkshire, RG17 0EJ Tel: 01488 682546 Fax: 01488 684473 Email: bradingcryer@bradingcryer.co.uk Web: www.bradingcryer.co.uk Standard terms of business The following standard
More informationTrade Direct Insurance Services Ltd Trade Direct House Ockford Road Godalming GU7 1RH. Terms and Conditions of Business Agreement
Trade Direct Insurance Services Ltd Trade Direct House Ockford Road Godalming GU7 1RH Terms and Conditions of Business Agreement This document is important and sets out the basis upon which we will carry
More informationMODULE 4 WINDING UP A BUSINESS
MODULE 4 WINDING UP A BUSINESS PART OF A MODULAR TRAINING RESOURCE Commonwealth of Australia 2015. With the exception of the Commonwealth Coat of Arms and where otherwise noted all material presented in
More informationNATIONAL HEALTH INSURANCE AUTHORITY. Personal Questionnaire
NATIONAL HEALTH INSURANCE AUTHORITY Personal Questionnaire Name of Scheme: Name of Individual: 1. Personal Details (a) Full name: Surname Forenames (b) Any previous name(s) Date(s) changed (c) (d) (e)
More informationCorporate Insurance Solutions Ltd BUSINESS INSURANCE CONSULTANTS
Terms of Business This Agreement is between You our client or potential client and Corporate Insurance Solutions Ltd and applies to all work that we carry out on your behalf. Corporate Insurance Solutions
More informationscotland ACE Agreement 2: Advisory, Investigatory and other Services
2 ACE Agreement 2: Advisory, Investigatory and other Services for the appointment of a Consultant to undertake any type of services in the built and natural environments except where the Client appointing
More informationGUIDANCE NOTES FOR DIRECTORS OF COMPANIES WHICH MAY BE MADE SUBJECT TO A FORMAL INSOLVENCY PROCEDURE. These notes are set out as follows: Page
GUIDANCE NOTES FOR DIRECTORS OF COMPANIES WHICH MAY BE MADE SUBJECT TO A FORMAL INSOLVENCY PROCEDURE These notes are set out as follows: Page Introduction 1 Insolvency 1 The period up to the start of the
More informationClosure of a Company under Companies
Closure of a Company under Companies Act,2013 IQBAL KAUR & ASSOCIATES COMPANY SECRETARIES 12/40, First Floor, Subhash Nagar, New Delhi 110027 E-mail :, Website : Mobile: 9990847066, 7053878398 Winding
More informationGUIDE TO WINDING UP OF SOLVENT AND INSOLVENT COMPANIES IN JERSEY
GUIDE TO WINDING UP OF SOLVENT AND INSOLVENT COMPANIES IN JERSEY CONTENTS PREFACE 1 1. Summary Winding up 2 2. Creditors Winding up 2 3. Bankruptcy 3 4. End of Period of Duration 4 5. Orders of the Court
More informationCode of Practice. Civil Investigation of Fraud. Notice COP 9 MAN
Code of Practice Civil Investigation of Fraud Notice COP 9 MAN July 2009 (updated to 18 July 2011) 1 Introduction Contents Civil Investigation of Fraud Civil investigation of fraud statement Outline Confidentiality
More information4.1 The property and any copyright or other intellectual property rights in any Input Material shall belong to the Subscriber.
1 Interpretation 1.1 In these Conditions: THE SERVICE PROVIDER means Cutec Remote Backup Terms and Conditions THE SERVICE PROVIDER S STANDARD CHARGES means the charges shown in the Order Sheet or other
More informationProfessional Direct Insurance Ockford Mill Ockford Road Godalming GU7 1RH. Terms and Conditions of Business Agreement. Our Service
Professional Direct Insurance Ockford Mill Ockford Road Godalming GU7 1RH Terms and Conditions of Business Agreement This document is important and sets out the basis upon which we will carry on our business
More informationLIMITED LIABILITY PARTNERSHIPS ACT 2012 ACT 743
LIMITED LIABILITY PARTNERSHIPS ACT 2012 ACT 743 PART I PRELIMINARY 1. Short title and commencement 2. Interpretation PART II FUNDAMENTALS OF A LIMITED LIABILITY PARTNERSHIP 3. Separate legal personality
More informationL.A. Tax Service, LLP 8350 MELROSE AVE. 2 ND Fl. #202 LOS ANGELES, CA 90069 TEL: (323) 658-5271 FAX: (323) 658-1114. Client Name: Dear Client,
L.A. Tax Service, LLP 8350 MELROSE AVE. 2 ND Fl. #202 LOS ANGELES, CA 90069 TEL: (323) 658-5271 FAX: (323) 658-1114 L. A. TAX SERVICE, LLP L. A. TAX SERVICE, LLP L. A. TAX SERVICE, LLP Client Name: Dear
More informationLimited Liability Partnerships (Amendment) 1 A BILL. i n t i t u l e d
Limited Liability Partnerships (Amendment) 1 A BILL i n t i t u l e d An Act to amend the Limited Liability Partnerships Act 2012. [ ] ENACTED by the Parliament of Malaysia as follows: Short title and
More informationGENERAL TERMS OF DELIVERY AND PAYMENT
GENERAL TERMS OF DELIVERY AND PAYMENT General terms of delivery and payment of the public limited company, registered in Almelo (the Netherlands), and all the companies affiliated to, filed at the office
More informationThompson Jenner LLP Last revised April 2013 Standard Terms of Business
The following standard terms of business apply to all engagements accepted by Thompson Jenner LLP. All work carried out is subject to these terms except where changes are expressly agreed in writing. 1
More informationLeathes Prior Solicitors Terms of Business
Leathes Prior Solicitors Terms of Business 1. Contacting us Our reception is open from 8.30am to 5.30pm Monday to Friday, excluding Bank Holidays. Arrangements can be made to see clients outside these
More informationCaribbean companies holding high value residential property in the UK
December 2012 Caribbean companies holding high value residential property in the UK During the 2012 UK budget, the UK government announced changes to the rate of Stamp Duty Land Tax ( SDLT ) on UK residential
More informationAPPOINTMENT OF DEBT COLLECTOR. Pursuant to Debt Collectors (Field Agents and Collection Agents) Act 2014
APPOINTMENT OF DEBT COLLECTOR Pursuant to Debt Collectors (Field Agents and Collection Agents) Act 2014 BETWEEN: SHIRAN (QLD) PTY LTD trading as PARAMOUNT COLLECTIONS Level 2, 66 Nicklin Way or PO Box
More informationArticle 2. Offers and quotations
1 Article 1. General 1. These terms and conditions apply to all offers, quotations and agreements between Smets Food Trading B.V., with registered offices in (6131 GR) Sittard, at Odasingel 473, hereinafter
More informationProbate Wills and Trusts Department Terms & Conditions of Business. Information Booklet effective 1 October 2013. Contents
Probate Wills and Trusts Department Terms & Conditions of Business Information Booklet effective 1 October 2013 Contents 1. Preliminaries 2. Terms and Conditions of Business 3. Storage of Papers and Deeds
More informationThe board of directors of a company is primarily responsible for:
The board of directors of a company is primarily responsible for: Determining the company s strategic objectives and policies. Monitoring progress towards achieving the objectives and policies. Appointing
More informationIf you are unclear about the implications of Auto Enrolment you will find our Guide to Auto Enrolment a good starting point.
The Pay Check Auto Enrolment Service A service designed for Pay Check clients who are looking for a first class pension solution that is simple to administer, cost effective and guarantees full compliance
More informationLAW ON BANKRUPTCY AND LIQUIDATION OF BANKS AND INSURANCE COMPANIES ( Official Gazette of the RoS, nos. 61/2005, 116/2008 and 91/2010)
LAW ON BANKRUPTCY AND LIQUIDATION OF BANKS AND INSURANCE COMPANIES ( Official Gazette of the RoS, nos. 61/2005, 116/2008 and 91/2010) I. GENERAL PROVISIONS Article 1 This Law defines the terms and proceedings
More informationGuide to Solvent Company Liquidations. Your options explained: Corporate Simplification, Member s Voluntary Liquidation, Company Deregistration
Guide to Solvent Company Liquidations Your options explained: Corporate Simplification, Member s Voluntary Liquidation, Company Deregistration Corporate Simplification Review Simplifying your corporate
More informationContents. 1-2 Contact Details 15. Part 1 Introduction. 3-4 Disclaimers 16. Part 2 Brief News 5-9. Part 3 Austerity Measures Amendments to Tax Laws
Contents Part 1 Introduction 1-2 Contact Details 15 Part 2 Brief News 3-4 Disclaimers 16 Part 3 Austerity Measures Amendments to Tax Laws 5-9 Special Feature Members Voluntary Liquidation 10-14 1 Introduction
More informationMoneySmartCo Limited Terms of Business MoneySmartCo Limited (Company Number 0861355) is a claims management company authorised and regulated by the
MoneySmartCo Limited Terms of Business MoneySmartCo Limited (Company Number 0861355) is a claims management company authorised and regulated by the Claims Management Regulator in respect of claims management
More informationTERMS AND CONDITIONS OF BUSINESS PLEASE NOTE: A LARGE PRINT VERSION OF THIS DOCUMENT IS AVAILABLE ON REQUEST
TERMS AND CONDITIONS OF BUSINESS PLEASE NOTE: A LARGE PRINT VERSION OF THIS DOCUMENT IS AVAILABLE ON REQUEST 1. THE FIRM Pothecary Witham Weld is authorised and regulated by the Solicitors Regulation Authority
More informationGuide to Liquidation of Companies in the Cayman Islands
Guide to Liquidation of Companies in the Cayman Islands Contents Guide to Liquidation of Companies in the Cayman Islands Introduction Page 3 Voluntary Liquidation Page 3 Striking Off Page 5 Involuntary
More informationGUIDE FOR THE VOLUNTARY DISSOLUTION OF CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATIONS
PUBLIC COUNSEL COMMUNITY DEVELOPMENT PROJECT NONPROFIT DISSOLUTION MARCH 2011 GUIDE FOR THE VOLUNTARY DISSOLUTION OF CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATIONS Dissolution is a legal process that
More informationJRI S STANDARD TERMS OF PURCHASE. Business Day: a day (other than a Saturday, Sunday or public holiday) when banks in London are open for business.
JRI S STANDARD TERMS OF PURCHASE 1. INTERPRETATION 1.1 Definitions. In these Conditions, the following definitions apply: Business Day: a day (other than a Saturday, Sunday or public holiday) when banks
More information(28 February 2014 to date) PENSION FUNDS ACT 24 OF 1956
(28 February 2014 to date) [This is the current version and applies as from 28 February 2014, i.e. the date of commencement of the Financial Services Laws General Amendment Act 45 of 2013 - to date] PENSION
More informationNew Companies Ordinance. Briefing Notes on Part 15. Dissolution by Striking Off or Deregistration
New Companies Ordinance Briefing Notes on Part 15 Dissolution by Striking Off or Deregistration INTRODUCTION Part 15 (Dissolution by Striking Off or Deregistration) of the new Companies Ordinance ( new
More informationCreditors voluntary liquidation
Creditors voluntary liquidation a guide for unsecured creditors Association of Business Recovery Professionals Creditors voluntary liquidation occurs where the shareholders, usually at the directors request,
More informationThe Lender has agreed to provide the Borrower with an unsecured term loan. PARTIES (1) incorporated and registered in England and Wales
Loan Agreement THIS AGREEMENT is dated The Lender has agreed to provide the Borrower with an unsecured term loan. PARTIES (1) incorporated and registered in England and Wales with company number,, whose
More informationProcedures Commonly Used. Letters Before Action. Earnings Arrestment. Attachment. Exceptional Attachment. Auction. Recoverable Expenses
z 2 Profiles 4 The Process Procedures Commonly Used Letters Before Action Telephone Collection/Pre-sue-Status-Trace Enquiry Diligence on the Dependence Arrest/Inhibit 5 Charge Earnings Arrestment Attachment
More informationGUIDE TO SUMMARY WINDING UP OF A JERSEY COMPANY
GUIDE TO SUMMARY WINDING UP OF A JERSEY COMPANY CONTENTS PREFACE 1 1. Commencement of a Summary Winding up 2 2. Procedure for Commencing a Summary Winding up 2 3. Possible Appointment of a Liquidator 3
More informationHosting Service Agreement
tesseract-online.com Hosting Service Agreement Cranbox Limited T/A Tesseract Commencement Date: 1. Agreement 1.1. This Agreement is made between you (the 'Customer') and Cranbox Limited trading as Tesseract
More informationCLIENT CARE AND TERMS OF BUSINESS
Welcome to CLIENT CARE AND TERMS OF BUSINESS OUR VISION Forward thinking, entrepreneurial, innovative and client friendly organisation, that values it s staff and is known as the first choice for business
More informationBGE/BE/TAC/0710. NQH Business electricity Terms and conditions
BGE/BE/TAC/0710 NQH Business electricity Terms and conditions These are our standard terms and conditions of NQH business electricity supply. As a NQH business customer you will be deemed to have accepted
More informationThese terms and conditions are appended to the General Terms and Conditions
ADDITIONAL LEAD GENERATION TERMS & CONDITIONS These terms and conditions are appended to the General Terms and Conditions 1. INTERPRETATION 1.1 In these Terms and Conditions or corresponding paperwork
More informationAVET. General Terms and Conditions for Exceptional Transport
AVET General Terms and Conditions for Exceptional Transport In Stichting vervoeradres, established in 1946, the following bodies work together: EVO, the Employers Organisation for logistics and transport
More informationDebt Recovery. Presentation to: Civil Contractors Federation (Vic) Presented by: Johnathan Quilty Lily Nguyen. Date: Tuesday 9 September, 2014
Debt Recovery Presentation to: Civil Contractors Federation (Vic) Presented by: Johnathan Quilty Lily Nguyen Date: Tuesday 9 September, 2014 Risk management strategies Risk management strategies Obtain
More informationACE Agreement 2: Advisory, Investigatory and other Services (for use in Scotland)
2 ACE Agreement 2: Advisory, Investigatory and other Services (for use in Scotland) for the appointment of a Consultant to undertake any type of services in the built and natural environments except where
More informationThe Limited Partnership Bill, 2010 THE LIMITED LIABILITY PARTNERSHIP BILL 2010 ARRANGEMENT OF CLAUSES PART I PRELIMINARY. Clause
THE LIMITED LIABILITY PARTNERSHIP BILL 2010 ARRANGEMENT OF CLAUSES 1 Short title and commencement. 2 Interpretation. PART I PRELIMINARY Clause PART II REGISTRAR AND REGISTRAR OF LIMITED LIABILITY PARTNERSHIPS
More information1. Definitions In the Agreement, unless the context requires otherwise, the following words shall have the following meanings:
Trading Services User Terms and Conditions 1. Definitions In the Agreement, unless the context requires otherwise, the following words shall have the following meanings: Access Accredited Software means
More informationMaybank Kim Eng Securities Pte Ltd Terms and Conditions
Maybank Kim Eng Securities Pte Ltd Terms and Conditions for Financial Advisory Services Telephone Email Website : (65) 6432 1888 (Singapore and Overseas) : helpdesk@maybank-ke.com.sg : www.maybank-ke.com.sg
More informationNSW Self Insurance Corporation Amendment (Home Warranty Insurance) Act 2010 No 30
New South Wales NSW Self Insurance Corporation Amendment (Home Warranty Insurance) Contents Page 1 Name of Act 2 2 Commencement 2 Schedule 1 Amendment of NSW Self Insurance Corporation Act 2004 No 106
More informationGUIDE Cayman Islands Company Voluntary Liquidation & Strike Off
5 th Floor Genesis Building Genesis Close PO Box 446 Grand Cayman, KY1-1106 Cayman Islands GUIDE Cayman Islands Company Voluntary Liquidation & Strike Off Table of Contents Introduction 2 Voluntary Liquidation
More informationODT SOLICITORS LLP. Terms of Business. 1. ODT Solicitors LLP is a limited liability partnership incorporated in England.
ODT SOLICITORS LLP Terms of Business ODT Solicitors LLP 1. ODT Solicitors LLP is a limited liability partnership incorporated in England. 2. It is ODT Solicitors LLP which accepts your instructions to
More informationRTI End of Year Processing
RTI End of Year Processing Published by: The Learn Centre Waterside, Halfway Bridge, Lodsworth, West Sussex GU28 9BP Telephone: 01798 861111 Fax: 01798 861112 E-mail: info@learnpayroll.co.uk Web Site:
More informationFor the purpose of this agreement the following words and phrases shall have the meanings detailed below:
Scania Fleet Management Terms & Conditions 1. Definitions For the purpose of this agreement the following words and phrases shall have the meanings detailed below: Agent: the authorised Scania dealer or
More informationLondon Stock Exchange Testing Services Order Form
London Stock Exchange Testing Services Order Form For the purposes of the Data Protection Act 1998 and the Privacy and Electronic Communications (EC Directive) Regulations 2003, the information provided
More informationINSOLVENCY AND AVAILABLE OPTIONS
INSOLVENCY AND AVAILABLE OPTIONS Corporations Act 2001 - Section 95A 95A Solvency and insolvency (1) A person is solvent if, and only if, the person is able to pay all the person's debts as and when they
More informationMIA 7/2010 INSOLVENCY. Learning the Essentials of Corporate Liquidation. April 2010
MIA 7/2010 INSOLVENCY Learning the Essentials of Corporate Liquidation Liquidated d Co.. April 2010 Copyright April 2010 by the Malaysian Institute of Accountants ( MIA ). All rights reserved. Permission
More informationPERSONAL LIABILITY FOR DEBTS, FOLLOWING CONTRAVENTION OF S.216
IMPORTANT NOTICE EXTRACTS FROM THE INSOLVENCY ACT 1986 AND INSOLVENCY RULES THE PROVISIONS OF SECTION 216, 217 and 235 OF THE INSOLVENCY ACT 1986 and Rules 4.226 to 4.230 RESTRICTION ON RE-USE OF COMPANY
More informationHOW TO FILE A DISABILITY CLAIM (For Benefits Provided Pursuant to an Employer Provided Benefit Plan)
HOW TO FILE A DISABILITY CLAIM (For Benefits Provided Pursuant to an Employer Provided Benefit Plan) If you have Short Term Disability and/or Long Term Disability coverage by virtue of your employment,
More informationPersonal Loan Agreement
March 2014 HSBC Bank Middle East Limited - PERSONAL LOAN AGREEMENT HSBC Bank Middle East Limited Personal Loan Agreement Copyright. HSBC Bank Middle East Limited 2014 ALL RIGHTS RESERVED. No part of this
More informationQUOTATION DOCUMENTS TERMS AND CONDITIONS OF AGREEMENT
Page 1 of 5 INTERPRETATION QUOTATION DOCUMENTS TERMS AND CONDITIONS OF AGREEMENT FOR THE SUPPLY AND DELIVERY OF FOODSTUFF OR AMENITIES ITEM(S) FOR THE PERIOD SPECIFIED IN THE AWARD LETTER In these Terms
More informationA Procedural Guide to Members Voluntary Liquidation in Hong Kong
A Procedural Guide to Members Voluntary Liquidation in Hong Kong Members Voluntary Liquidation A Members Voluntary Liquidation is for a solvent company which can pay all its debts in full. The following
More informationContract for services PSC Contractor (Ltd Company) Terms & Conditions
Contract for services PSC Contractor (Ltd Company) Terms & Conditions T: 0330 555 5000 www.nursdoc.com Contract for Services This Agreement is made between: Nursdoc Limited (Registered No. 08354601) whose
More informationGENERAL TERMS OF MONEY TRANSFER SERVICE Swipe.lv
GENERAL TERMS OF MONEY TRANSFER SERVICE Swipe.lv Approved at the meeting of the Board of the JSC Rietumu Banka, 10.07.2015, Minutes No. 41 1. BASIC TERMS 1.1. Bank the joint stock company Rietumu Banka,
More informationNationality: Passport No: Occupation: Tel No: Fax No: Email: Nationality: Passport No: Occupation: Tel No: Fax No: Email:
Foundation Order Form No. 35 Barrack Road, Suite 202, P.O. Box 2391, Belize City, Belize, C.A. 1. Jurisdiction 2. Foundation Name 1. a. Please give three (3) names, in order of preference: b. Purpose of
More informationWORKERS COMPENSATION GLOSSARY
WORKERS COMPENSATION GLOSSARY ACCIDENT An unplanned and unexpected event which occurs suddenly and at a definite place resulting in injury and/or damage. ACCIDENT FREQUENCY The rate of the occurrence of
More informationTerms and Conditions 1. Definition 1.1 We, The Company, Our and Us means Guardian Recovery Limited whose registered office is 4 Tustin Court, Port Way, Preston, PR2 2YQ. Guardian Recovery Limited is registered
More informationHow not to lose your head in the Cloud: AGIMO guidelines released
How not to lose your head in the Cloud: AGIMO guidelines released 07 December 2011 In brief The Australian Government Information Management Office has released a helpful guide on navigating cloud computing
More informationSECURITIES TRADING TERMS CORPORATE CUSTOMERS 7 July 2011 CONTENTS
SECURITIES TRADING TERMS CORPORATE CUSTOMERS 7 July 2011 CONTENTS 1. SUBSTANCE OF SECURITIES TRADING TERMS... 2 2. SCOPE... 2 3. AMENDMENTS TO SECURITIES TRADING TERMS... 2 4. NO COOLING-OFF RIGHT IN RESPECT
More informationSCOTLAND S COMMISSIONER FOR CHILDREN AND YOUNG PEOPLE STANDARD CONDITIONS OF CONTRACT FOR SERVICES
SCOTLAND S COMMISSIONER FOR CHILDREN AND YOUNG PEOPLE STANDARD CONDITIONS OF CONTRACT FOR SERVICES 1 1 Definitions In these conditions:- We means Scotland s Commissioner for Children and Young People,
More informationGuide to the VAT mini One Stop Shop
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT Brussels, 23 October 2013 Guide to the VAT mini One Stop Shop Table of Contents Background...
More informationCompulsory liquidation. a guide for unsecured creditors. Association of Business Recovery Professionals
Compulsory a guide for unsecured creditors Association of Business Recovery Professionals Compulsory occurs when a company is wound up by an order of the court. A licensed insolvency practitioner has given
More informationPowers of Attorney in New South Wales. This fact sheet also contains the forms to make a general power of attorney or an enduring power of attorney.
FACT SHEET www.lpi.nsw.gov.au March 2014 Powers of Attorney in New South Wales This fact sheet also contains the forms to make a general power of attorney or an enduring power of attorney. What is a power
More information(INDIVIDUALS ONLY) IndContPkge Version: 1.7 Updated: 18 Jul. 03
INDEPENDENT CONTRACTOR PACKAGE (INDIVIDUALS ONLY) IndContPkge Version: 1.7 Updated: 18 Jul. 03 Contents Preface 2 Checklist 3 Helpful Hints 4 Frequently Asked Questions 5 Agreement with an Independent
More informationBusiness Debtline www.businessdebtline.org 0800 0838 018
BUSINESS DEBTLINE Business Debtline www.businessdebtline.org 0800 0838 018 DEALING WITH DEBTS OF A LIMITED COMPANY FACT SHEET NO. 5 NORTHERN IRELAND This fact sheet gives information about private limited
More informationInsolvency and. Business Recovery. Procedures. A Brief Guide. Compiled by Compass Financial Recovery and Insolvency Ltd
Insolvency and Business Recovery Procedures A Brief Guide Compiled by Compass Financial Recovery and Insolvency Ltd I What is Insolvency? Insolvency is legally defined as: A company is insolvent (unable
More informationCOMPANY LAW UPDATE. Presented by
COMPANY LAW UPDATE The Companies Act 2014, as commenced on 1 June 2015 This commentary is published by Chartered Accountants Ireland as a service to Chartered Accountants. issued June 2015 Presented by
More informationConditions means the standard terms and conditions set out in this document;
October 2014 Conditions of Supply for Electricity SME Business Customers These are our terms and conditions which are applicable to Commercial Customers with tariffs in Duos Group DG1, DG2, DG 5 or DG
More informationGENERAL TERMS AND CONDITIONS OF SALE FOR PRODUCTS AND SERVICES
GENERAL TERMS AND CONDITIONS OF SALE FOR PRODUCTS AND SERVICES These terms and conditions of sale shall apply to the sale by OPTIMAS OE SOLUTIONS SAS of any products, materials and other equipment (hereafter
More informationComparison of Voluntary Liquidation Procedures in the British Virgin Islands, the Cayman Islands and Jersey
Comparison of Voluntary Liquidation Procedures in the British Virgin Islands, the Cayman Islands and Jersey Introduction In light of recent changes to UK tax on residential property it may in certain circumstances
More information---------------------------------------------------------------------------------------------- LIMITED LIABILITY PARTNERSHIP
---------------------------------------------------------------------------------------------- LIMITED LIABILITY PARTNERSHIP LAW DIFC LAW NO.5 OF 2004 ----------------------------------------------------------------------------------------------
More informationJudicial Management, Scheme of Arrangement and Winding Up in Singapore. Copyright Colin Ng & Partners LLP 1
Judicial Management, Scheme of Arrangement and Winding Up in Singapore Copyright Colin Ng & Partners LLP 1 Introduction Economic crisis many companies hit by cash flow problems and financial difficulties.
More informationwww.hughesjenkins.co.uk
HUGHES JENKINS SOLICITORS TERMS AND CONDITIONS OF BUSINESS Hughes Jenkins and Hughes Jenkins Solicitors are the trading names of Hughes Jenkins Limited A company limited by shares registered In England
More informationDUTIES OF DIRECTORS IN RELATION TO COMPANIES FACING FINANCIAL DIFFICULTIES
DUTIES OF DIRECTORS IN RELATION TO COMPANIES FACING FINANCIAL DIFFICULTIES This note summarises the current duties of directors of a company and the potential for them to incur personal liability in that
More informationScheme Rules. The JLT (Schools PA) Discretionary Trust Arrangement. Distinctive. Choice. JLT GROUP SERVICES PTY LTD
Scheme Rules The JLT (Schools PA) Discretionary Trust Arrangement Distinctive. Choice. JLT GROUP SERVICES PTY LTD Version (SchoolsPA) 2014 Distinctive Choice JLT is an international group of Risk Specialists
More informationThe Creditors Guide to Insolvency. Kindly Provided by
The Creditors Guide to Insolvency Kindly Provided by During the recent worldwide financial instability a number of our customers have found themselves to be a creditor of an insolvent entity, i.e. owed
More informationKingdom of the Netherlands
Kingdom of the Netherlands GENERAL GOVERNMENT PURCHASING CONDITIONS 2014 (ARIV 2014) Adopted by order of the Prime Minister, Minister of General Affairs, of 26 March 2014, no. 3132081 I General Article
More informationKEMP & KEMP PRACTICE NOTES: INSOLVENT DEFENDANTS Simon Edwards
KEMP & KEMP PRACTICE NOTES: INSOLVENT DEFENDANTS Simon Edwards 1. Every so often, a claimant is faced with a defendant, corporate or personal, that is insolvent. Insolvency, now, takes many different forms:
More informationKSA Group Ltd. Members Voluntary Liquidation. The Expert s Complete Guide to Liquidating a Solvent Company
KSA Group Ltd Members Voluntary Liquidation The Expert s Complete Guide to Liquidating a Solvent Company 2015 KSA Group Ltd and Keith Steven; Keith Steven is hereby identified as the author of the material
More informationCONTRACTOR PAY TAKE MORE HOME FREE GUIDE CONTRACTORS RETAIN UP TO 90% OF YOUR INCOME ARE YOU CONTRACTING THE BEST WAY?
TAKE MORE HOME FREE GUIDE CONTRACTORS RETAIN UP TO 90% OF YOUR INCOME ARE YOU CONTRACTING THE BEST WAY? 1CONTRACTING? Contracting Being a contractor can allow you greater flexibility in the hours you work
More informationLEVEL 4 - UNIT 5 CORPORATE INSOLVENCY SUGGESTED ANSWERS JUNE 2015
LEVEL 4 - UNIT 5 CORPORATE INSOLVENCY SUGGESTED ANSWERS JUNE 2015 Note to Candidates and Tutors: The purpose of the suggested answers is to provide students and tutors with guidance as to the key points
More informationAt the EGM, the shareholders decide to put the company into liquidation and vote for the insolvency practitioner that they wish to be appointed.
For a Director My Company is Insolvent What Should I Do? There are a number of options available; Creditors Voluntary Liquidation (CVL) Compulsory Liquidation (Winding Up) Informal wind down or dissolution
More informationCSENSE LTD. Block Management Agreement
CSENSE LTD Block Management Agreement For Guidance in this agreement The singular includes the plural and the plural includes the singular. Any obligation undertaken by more than one person is a joint
More informationWinding Up of Companies
Winding Up of Companies 1. Introduction 2. Winding Up & Dissolution 3. Reasons for Winding Up A Company 4. Modes of Winding Up A Company 5. Grounds for Compulsory Winding Up 6. Power of the Court after
More informationPLEASE CONTACT US IF YOU REQUIRE THESE TERMS OF BUSINESS IN LARGER PRINT. Painters. Version 3: January 2014
PLEASE CONTACT US IF YOU REQUIRE THESE TERMS OF BUSINESS IN LARGER PRINT Painters Terms of Business Version 3: January 2014 Introduction We aim to offer our clients quality legal advice with a personal
More information