What will you be who are we we are the worlds leading

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What will you be? Who are we? We are the world’s leading provider of reservoir characterization, drilling, production, and processing technologies to the oil and gas industry. Who are we looking for? We offer countless opportunities in the following domains: n Operations n Research, Engineering, and Manufacturing n Geoscience and Petrotechnical n Commercial and Business We’re looking for high-energy, self-motivated graduates with vision and integrity to join our team. careers.slb.com
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BUSINESS ORGANISATIONS AND AGENCY 362 COMPANIES 19.7.2 LIMITED BY SHARES OR GUARANTEE Under s. 3(2) CA 2006, a company is limited by guarantee if by its constitution the liability of the members “is limited to the amount, if any, unpaid on the shares held by them.” Each share usually has a nominal value which the shareholders must pay to the company. If a shareholder has paid the full value of his shares, he would be free from further liabilities to the company, no matter how much it owes. However, if shareholders do not pay the entire value of the shares they hold, their liability would be limited to any amount yet to be paid on those shares. Under s. 3(3) CA 2006, a company is limited by guarantee if by its constitution the liability of its members “is limited to such amount as the members undertake to contribute to the assets of the company in the event of its being wound up.” A company limited by guarantee does not and cannot have a share capital. Instead, each member undertakes to contribute a specified sum towards the payment of the company’s debts in the vent of liquidation. Since a company limited by guarantee does not have any contributed capital while the company is a going concern, it is usually formed for non-commercial and non-profit purposes. 19.7.3 PUBLIC AND PRIVATE COMPANIES Under s. 4 CA 2006, a public company is one limited by shares or by guarantee which is registered as a public company and whose certificate of incorporation states that it is a public company. The name of a public limited company must end with the words “public limited company” or the abbreviation “plc”. According to s. 763 CA 2006, a public limited company must have issued share capital of at least £50,000, (or its equivalent in Euro) though the Secretary of State can specify a different amount. A public company must receive at least one quarter (25%) of the nominal value of its authorised capital, i.e., at least £12,500, before it could start business. As earlier noted, a public company cannot start business without receiving a trading certificate – s. 761 CA 2006. Under s 767, it is an offence punishable by fine for a plc to carry on business without the certificate. A public company must have at least two members or shareholders, and at least one secretary. The principal reason for forming a public limited company is the ease of obtaining capital from the public through the sale of its shares, and therefore the unlimited potential for growth. A company must be formed as or become a plc if it aims to obtain contributed capital from anyone other than its founders and persons introduced individually without a public offer.
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  • Fall '19
  • Corporation, Managing Partner

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