Understanding Company Organs: Shareholders and Administration
Company Organs: Shareholders and Administration
1. Shareholders General Board
Body decisions are taken by the company.
2. Executive Body
Decisions are taken generally by the board.
Definition: A duly convened meeting to deliberate with partners and make agreements within their competence.
Characteristics:
- Changes can be made until the statutes are respected.
- Decisions cannot violate individual rights or the principle of parity among partners.
- Necessary treatment of the body, not a must in any SA.
- Sovereign
Effectiveness and Flaws of Legal Transactions
Plan Effectiveness (Articles 121-137 CC)
The plan effectively addresses the legal transaction’s effect. Business may involve existing, valid, but ineffective legal situations. Studying plan effectiveness requires analyzing accidental elements.
Accidental Elements:
- Condition
- Term
- Charges
Concept: Legal business analysis involves existence, validity, and effectiveness. Efficacy is the means to produce the effects desired by the agent. When a business is existing, legal, and valid, with no accidental elements,
Read MoreVisigothic Law and Its Evolution in Medieval Spain
The Two Theses of Nationality and Territoriality
There are two theses of nationality and territoriality. The union, a legal entity that appears in 654, is the only right that takes place in the territory, daring to govern the Liber Iudiciorum. It is assumed that both communities had a different legal system. Problems of territoriality arise because subsequent law supersedes prior law when referring to the same subject, as not doing so would break the principle of legal security. This is a fundamental
Read MoreFINA Swimming Rules: Timekeepers, Judges & Officials
SW 2.9 Timekeepers
SW 2.9.1 Each timekeeper shall time the competitor’s lane assigned to him in accordance with SW 11.3. The clocks used will be certified as correct to the satisfaction of the Management Committee of the competition.
SW 2.9.2 Each timekeeper shall start his watch at the start signal and stop it when the swimmer in his lane has completed his race. Timekeepers may receive instructions from the chief timekeeper to record times at intermediate distances for races over 100 meters.
SW 2.
Understanding Spanish Accounting and Business Registries
Where and When to File Accounting Records in Spain
(Art. 279 LSC) The Corporate Law mandates that companies file their financial statements at the Mercantile Registry corresponding to their registered office location. This filing must occur within one month of approval, accompanied by:
- A certificate of resolutions adopted by shareholders at the Annual General Meeting where the statements were approved.
- The proposed distribution of profit.
- Copies of the financial statements, directors’ report, and
Spanish Social Security: Benefits and Structure
Item 7: Social Security in Spain
1. Structure of the Social Security System.
The public authorities shall maintain a public Social Security system for all citizens to ensure care and adequate social benefits in situations of hardship, particularly unemployment.
Social Security Systems
The Social Security system is a public system with a number of schemes that have a universal character, since it seeks to extend to the entire population by ensuring adequate assistance and benefits in situations of need.
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