III. Learn the following words

II. Read the text to fulfil the tasks

Suggest a purpose for reading the text

2. What can the text be about? Give your own predictions

Most businesses in the United Kingdom operate in one of the following ways:

• sole trader

• partnership

• limited liability company

• branch of a foreign company.

The sole traderis the oldest form of business. There are many one-man owners, for example: a farmer, doctor, solicitor, estate agent, garage man, jobber, builder, hairdresser etc. The partnershipis a firm where there are a few partners. They are firms of solicitors, architects, auditors, management consultants etc. The names of all the partners of the firm are printed on the stationery of a partnership. The most common type of company in the United Kingdom is the limited liability company.At the end of the name of such a company the word Ltd. is used. For example: Wilson and Son Ltd. Many of such companies are joint-stock companies owned by shareholders. Limited liability companies are divided into public and private ones. Only public companies may offer shares to the public at the stock exchange. The names of such companies end in p.l.c.which stands for “public limited company”. For instance: John and Michael p.l.c. Private limited companies may not offer shares to the public. The names of such companies end simply in Ltd. A branch of a foreign companyis a part of a company incorporated outside Great Britain but acting under the law of the U.K. Usually these companies act in the U.K. under their normal foreign names.

All partnerships and companies are regulated by the law of the U.K. or by Acts of Parliament, and are to be registered with the Registrar of companies. In order to be registered they are to deliver a few documents, namely:

• a certified copy of the company's charter

• statute

• memorandum and others. When a company is registered a certificate of incorporation is issued by the Registrar. Here is one of the cerificates:

 

Duplicate for the file No 989855. Certificate of Incorporation

I hereby certify that the Goldflelds, Limited is this day incorporated under the Companies Acts, 1962 to 2010, and that the Company is Limited. Given under my hand at London this tenth day of July two thousand and ten.

Fees and Deed Stamps 15,200, 00

Stamp Duty on Capital 13,510.00

Registrar of Joint Stock Companies

Certificate received by Stephen Low

65 London Wall, E.C.,

Date 13 May, 2012

 

partnership товарищество
liability ответственность
limited liability ограниченная ответст­венность
limited liability company компания с ограниченной ответствен­ностью
solicitor адвокат
estate недвижимое имущество
estate agent агент по купле-продаже недвижимого имущества
jobber маклер, комиссионер
stationery канцелярские бланки
joint-stock company акционерная компания
shareholder держатель акций, акционер
exchange биржа
stock exchange фондовая биржа
to incorporate under the law зарегистрировать как корпорацию по закону

IV. Answer the following questions:

1. What is the most common type of company in the U.K.?

2. Are all limited liability companies joint-stock companies?

3. What can you say about the types of the following companies:

Fine Furniture Ltd.

General Foods p.l.c. ?

 

V. Translate into English:

1. Деятельность товариществ и компаний в Вели­кобритании регулируется законом, т.е. актами парламента.

2. Они должны быть зарегистрированы официальным регистратором.

3. Они должны представить несколько документов.

4. Когда компания зарегистрирована Регистратором, выдается свидетельство о регистрации.

5. Настоящим свидетельствуется о регистрации ком­пании, а также то, что компания является компа­нией с ограниченной ответственностью.

VI. Give the Russian equivalents for the English words and expressions:

a certified copy; company's charter; statutes; memorandum; fees; deed stamps; stamp duty on capital; sole trader; farmer; doctor; solicitor; estate agent; garage man; jobber; builder; hairdresser partnership; solicitors; architects; auditors; management consultants limited liability company; joint - stock limited liability company; public limited liability company; private limi­ted liability company; Ltd.; p.l.c; shares a company incorporated outside Great Britain; a company registered in Great Britain; a company acting under the British law; a company acting under its normal foreign name.