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Non-limited Business Question

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Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 5:33 pm

Does a non-limited business have shareholders?

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Re: Non-limited Business Question

Post by actinglikeabanker on Tue Sep 19, 2017 7:06 pm

Hey,

As far as I am aware no. You can have 'limited by shares', 'limited by guarantee' amongst others.

For unincorporated businesses see here := https://www.gov.uk/unincorporated-associations

I suppose you could have some agreement between the members but, it would mostly be for sharing liability.

Unincorporated and incorporated – What’s the difference? := http://www.communityimpactbucks.org.uk/data/files/Self_Help_Guides/Legal_Structures/vls_chapter_2.pdf

Change your charity structure  := https://www.gov.uk/guidance/change-your-charity-structure
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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 7:12 pm

Thanks for the help. I'm of the understanding there are no shareholders and its the CEO who is personally liable. He/she administers the corporation.

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Re: Non-limited Business Question

Post by LionsShare on Tue Sep 19, 2017 7:46 pm

Phillpots: Hi,

what have you managed to find out about an incorporated company which is a non-limited business?

Have been searching all over but can't find anything too convincing. we last discussed this here:

http://goodf.forumotion.com/t544-land-registry-offices#3676

I know what an incorporated company verses a non-limited business, but its this non-limited business that purport to be incorporated company I don't comprehend. Looking on

https://companycheck.co.uk/

type in a council name & it comes back incorporated but a non-limited business. Any ideas?
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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 7:58 pm

I found this the other day. See what it triggers with you.

As far as I know a Corporation is a Non-limited business, which means:
Quote www.quora.com
A non limited company is typically owned by a person or persons and has unlimited liability for debts or penalties in the event of bankruptcy, debts or fines. The owning individuals are liable for these and it affects them directly and personally from financial association. I.e. Their home could be repossessed to pay off debts from the company. End quote.

Still need more info on non-limited businesses. I think it may hold a key.

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 8:20 pm


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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 8:38 pm

You may be interested in this if you have not already seen it. It's regarding smart meters but the principle to is good for any corporation (non-limited business) IMO. There will be other episodes.
https://www.youtube.com/watch?v=NtIYFCjUTSo

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 8:39 pm

Hi guys

Just a guess from context....

All companies, corporations etc have limited liability, as do 'persons'. This is achieved by means of insurance.

This definition of 'non-limited company'.in saying it has un-limited liability, well to me it could be describing a 'man', or its nearest legal relative the 'private person'.

Or maybe something ecclesiastical.......?

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 8:55 pm

Does that link in to the CEO having personal liability? And no insurance would cover them, so they would back down when say a notice of liability is issued to them.

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 9:04 pm

Hi Phillpots

i'm not sure, as we are pitting the non-person of the 'man' against the 'office' (aka person) of CEO.

As far as i know a CEO has to have insurance of some sort, whereas a man cannot have insurance.

A CEO's insurance would not cover him for any unlawful actions or omissions.

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 9:18 pm

Not sure myself but my thoughts are a CEO of non-limited does not have insurance while in office because they are personally liable. Not 100% sure sure hence posting this question to see where it takes us.

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 9:23 pm

Hi Phillpots

What LionsShare said about the councils - it occurs to me that a non-limited company might in some way be a good way to milk the CQV accounts?

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 9:30 pm

I'm new with CQV information. My thoughts are trying to break down and gain info on non-limited businesses. All our councils, police and gov are registered as them so I need to get past N-LB before moving on. CEO may be next stage. If they are personally liable. At what point would they back down? I don't know - yet. Smile

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 9:35 pm

Hi Phillpots

If you want him to be liable as a man, all you have to do is address and notice him as a man, and be prepared to sue him as a man, to bring claim against him.

In theory it should be easier now since motu propria removed certain protections.

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 9:41 pm

So I assume this goes back to All CAPS on surname. The CEO would never use that when communicating with us. Not sure, and I've heard of moto before. Do you have a link on that info? No worries if you have not.

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Re: Non-limited Business Question

Post by LionsShare on Tue Sep 19, 2017 9:42 pm

My understanding of incorporated companies. If during the course of business an incorporated company or if you like a limited company incurs fines, duty to pay bills etc, then if & when these are not paid, then it is the “company” that gets taken to court & pay ? without recourse on the un-incorporated person(s) (people behind the company). Where as when a partnership, association, sole-trader etc., incurs fines, pay bills then he/she must pay directly.

For me its this incorporation but being a non-limited business I cannot get my head around. Have not had time to follow your links phillpots but will do later.

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 9:58 pm

Hi Phillpots

i have yet to become link-savvy, sorry. There's loads on yt though, ceylon's got lots up there. You must have watched Troy?

Motu Proprio was basically pope francis telling the merchants the church won't go down without a fight. He removed some protections that had in the past allowed some 'persons' to get away with... er, dodgy business practice.

The ALL CAPS is indication that the House/ESTATE is chargeable.

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 10:02 pm

And probate is used as you cannot get away without dealings with The Crown.

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 10:17 pm

Hi LionsShare

The limited company is a person that shields another person via insurance. If a company can't/won't meet its obligations its assets can be taken to pay.The person behind the shield is protected from liability because another person has taken the hit.

Is a partnership or association a non-limited business?

Cheers!

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 10:21 pm

Hi guys

Phillpots - the Crown gets paid every time money changes hands anywhere ever.

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 10:47 pm


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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 10:56 pm

Hi Phillpots

That's the one! Check out 3c.

Cheers!

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 11:03 pm

Hi guys

Looking at it, it's possibly what keeps the former pope from leaving the Vatican.

Cheers!

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Re: Non-limited Business Question

Post by Phillpots on Tue Sep 19, 2017 11:05 pm

Yes very good to see (no pun intended). Do we know for sure that 3 (c) links 100% with our UK government?

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Re: Non-limited Business Question

Post by iamani on Tue Sep 19, 2017 11:09 pm

Hi Phillpots

If it's a registered corporation then it's under the purview of the Vatican (they own the UCC).

'Minister' is also an ecclesiastical term.

Cheers!

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