Karlos, she probably does... until you hit an earnings bracket of over £1,000,000 a year your shares don't waver in value - so you could purchase it from her for £1
you can't own a business if you're younger than 16, this is for a very good reason.
at 16 you are not legally allowed to work (child labour laws). although you might want to, legally you can't.
second reason thought is even more sound, and its because you will be responsible for the finances of the company (as the director is the one who takes the fall if the company goes under) ... someone who is under 16 is not allowed to handle more than $50,000 at any given time. (again another weird law) ... although you can store more in another account like a trust fund, you're only allowed to have upto $50,000 per year in your current account.
this is really mostly a tax reason, as people under 16 do not pay taxes nor are eligable for them.
we got some cookie laws. you secutary must also be older than 18. reason for this being that when your 18 you can handle an unlimited amount of money based on your company account. Though some banks will only allow upto 2,000,000 ... and make you wait until you 21 before allowing you a full range.
really i don't understand why someone people post, its quite obvious they don't like me ... and i can't say i particularly like them. So why bother even posting? What do they care what happens?
a good few sad lil kids around here, who seem to have one joy to try to show people up ... when sadly they oftenly don't have a clue what they're talking about (not that it'll stop people believing what they say).
Quote: "When I reach that point, I'll just have to find a good lawyer, who will work for free and give me some tips"
hope you know a mate or family member in law school
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i'd just like to make this clear btw... and just for empties benifit really.
please read the sentace you want to quote almost every post... and read it carefully. It does NOT say that you can hold all of the shares UPON incoporation, only that your allowed to BECOME the single shareholder.
people must be lucky your not a lawyer mate, cause you would make an aweful one with that kinda of laspe in interpretation.