(3) Enterprises controlled or actually controlled by a securities firm

Widely held and controlled companies differ considerably in the governance problems their investors face. In widely held firms, the concern is about opportunism by managers, who exercise de facto control in controlled firms, the concern is about opportunism by the controlling shareholder at the expense of minority shareholders.

Where the dealing party has reached an agreement or consensus with the controlling shareholder of the listed company on the assignment of the equity of the listed company or on the recommending of directors to the listed company, which may result in the change of the actual controlling right of the listed company, the controlling shareholders of the listed company and their affiliates shall withdraw from voting.

KPC, the shares of which are wholly owned by the State of Kuwait, is responsible for the coordination of Kuwait s entire public sector oil and gas industry and is the holding company of all other companies operating in the oil and petrochemical sector.

1 The specified parties are the controlling shareholders, the actual controllers of the listed company or the affiliates controlled by the listed company

2 Actually control 5 equity or more of the securities firm by holding equity of the shareholders of the securities firm or by any other means.

(2) Shareholders and actual controllers of a securities firm

(1) parties who are actually capable of controlling the Company or funds under the management of the Company or parties exerting great influence upon the Company or the operation of funds, like controlling shareholders of the Company and trustees of funds, etc. and

These arrangements are, indeed, important for investors in widely held firms. When a company has a controlling shareholder, however, control contests are not possible, and the arrangements governing such contests are thus irrelevant.

Dr. Bamanga Tukur, Group Chairman of the BHI Holdings Limited

Dr. Bamanga Tukur, Group Chairman of the BHI Holdings Limited

It should be noted that the Department of Statistics defines foreign controlled companies as either wholly owned (100 per cent) or majority owned (at least 50 per cent of paid up shares).

This relatively high percentage required for control implies that many SINTNCs may be considered as local controlled even if some 20 49 of their shares are owned by a single foreign investor.

For example, ten major companies dominate the world cocoa processing industry.

A company might have a single shareholder or group of shareholders with majority control of the company, either through holding the majority of the company's outstanding equity or through holding shares with superior voting rights.

Article 33 Joint stock insurance companies, joint stock insurance holding (group) companies, exclusively foreign funded insurance companies and Sino foreign joint venture insurance companies shall be subject to the present Guidelines, while exclusively state owned insurance companies, branches of foreign insurance companies and insurance assets management companies shall be under the present Guidelines by analogy.

Other companies in the holding company were still in the country, but involved in exclusively economic activities.

While the claimant and the respondent had signed the arbitration agreement, a company (the sole shareholder of the respondent), the individual shareholders of that company, and the wholly owned subsidiaries of the claimant had not.

the Director of Prosecutions the Commissioner of Inland Revenue or the appropriate supervisory authority of financial institutions outside Barbados at the request of that authority, where the branch, holding company or affiliate of the licensee is operating in that country.

The remaining equity share was held by the Sri Lankan partner, Industrial Indo Hume Pipe company.

any supervisory or regulatory authority of financial institutions in Barbados and the appropriate supervisory or regulatory authority of financial institutions of another country, at the request of that authority, where there is a branch, holding company or affiliate of the licensee operating in that country.

She was also charged with offences that occurred in 1997 in connection with Yukos' purchase of shares of the Vostochno Neftyanaya Company.

The authors present a broad, detailed, and fair assessment of private equity the business of investing in established companies through debt financed purchases of controlling stakes. (By contrast, venture capitalists support start ups almost entirely through equity.)

The negative growth was also attributed to repayments of intra company loans by foreign subsidiaries and or reduction in the equity of foreign subsidiaries controlled by Singaporean TNCs. This latter phenomenon represents negative outflows of FDI from host countries back to Singapore.

Although Executive Outcomes was registered in Pretoria, its holding company, Strategic Resources Corporation (SRC), was also registered in London.

This is the case of Executive Outcomes and its holding company, Strategic Resources Corporation, which is working in several countries with a profile similar to that described earlier.

Because the basic governance problems in the two types of firms are considerably different, arrangements that benefit investors in widely held firms might be irrelevant or even counterproductive in controlled firms, and vice versa. As a result, applying a single standard for assessing investor protection worldwide is bound to miss the mark with respect to widely held firms, controlled firms, or both.

1 Illegally buying securities issued by shareholder of the securities firm or other issuer with major relationship to securities firm against regulation

They should not stand in the way of compensation that includes stock options, or that otherwise create financial risks for their employees. But they should make sure that such programs are administered in employees interest, because companies that encourage their employees to hold options or to invest directly in the company s stock are asking them to take on some of the company s risks.

It was, however, part of a holding company, Strategic Resources Corporation (SRC), which included companies with various social purposes that provided different economic services.

The securities regulatory agency under the State Council can enquire the bank accounts of a securities firm and enterprises controlled or actually controlled by the securities firm with approval of a person responsible of the securities regulatory agency under the State Council with a view to make a thorough investigation of business and financial status of the securities firm.

For purposes of ensuring the accessibility of credit resources for rural commodity producers and farm product processing enterprises, the State joint stock company Agrarian Credit Corporation was created.

Overlapping claims relate to claims by both the shareholder and the corporate entity for losses pertaining to the same corporate business.

Article 11 If the purchase or sales of assets by a listed company or the company it controls or controlled by it meets one of the following standards, a material assets reorganization is constituted

Henry O. Murchison Corporation.

Investors and public officials in countries where controlled companies dominate should stop using global governance standards based on the designers experience with widely held firms in the US. Rather, they should strive to develop standards appropriate for controlled firms.

2.1 The authors are the owners of the enterprise Mariategui Sociedad Anónima Comercial Industrial Minera Agropecuaria Constructora (referred to hereinafter as the company), which is a limited company created in 1976, and the legal successor of Mariategui Usandizaga S.A.C.I.M.A.C. another limited company created by the two first authors in 1970.

Finally, when assessing controlled companies, the independence of directors should not be judged largely by looking at the extent to which they are independent of the company on whose board they serve. Rather, considerable attention should be given to their independence from the controlling shareholder.

Also, Section 2B of the Public Tender Law, 5752 1992 ( Public Tender Law ) stipulates that in a governmental tender, a woman controlled business (a business controlled by a woman, holding 50 or more of the means of control, alone or with other women, enabling her to direct its activity) shall be preferred in a tender, when receiving an equal score to a non woman controlled business.

(1) Where a securities firm entrusts others or accepts others entrustments to hold or manage the stock right of the securities firm, or subscribe for, assign or actually hold the stock right of the securities firm

On the 27th, Zhejiang Geely Holding Group announced that it has reached an agreement with European fund company Cevian Capital to acquire 82.47 million A shares and 78.77 million B shares of AB Volvo from Cevian Capital.

Family capitalism in the continental European model uses relatively little capital to achieve maximum control. It frequently depends on very complex corporate structures, with multiple layers of holding companies, as well as privileged shares that can guarantee the continuation of control.

This may involve the acquisition of shareholdings, the establishment of subsidiaries, holding companies, etc.

a stock company with limited liability or

An insurance holding (group) company may, by referring to these Guidelines, set down the compliance policies and conduct norms for employees and marketing staff of the group.