TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

CLOSED JOINT-STOCK COMPANY [1 record]

Record 1 2003-12-05

English

Subject field(s)
  • Commercial and Other Bodies (Law)
CONT

The Closed Joint Stock Company is a corporate entity formed on the basis of a constitutive contract between the founders and a charter document establishing the structure of the enterprise, management, finances, etc. Closed Joint Stock Companies may have a single founder/participant. Three management bodies are provided for: the Stockholders' Meeting, the Board of Directors (normally not necessary if there are 50 or less participants) and the Executive Board ... The liability of participants is limited to their capital contribution. Participants in a Closed Joint Stock Company may not freely alienate their shares in the enterprise and have preferential rights to purchase other participants' shares.

Key term(s)
  • closed joint-stock company

French

Domaine(s)
  • Organismes commerciaux ou non (Droit)
CONT

La société par actions de type fermé est une personne morale formée sur la base d'un contrat de constitution entre les fondateurs et les statuts constitutifs qui établissent l'organisation de l'entreprise quant à l'élection des administrateurs, au type de financement, etc. Cette forme d'entreprise peut n'avoir qu'un seul fondateur ou actionnaire. Trois organes d'administration sont prévus : l'assemblée des actionnaires, le conseil d'administration (qui n'est généralement pas nécessaire s'il y a 50 actionnaires ou moins) et le conseil exécutif. [...] La responsabilité des participants est limitée à leur mise de fonds. Les participants d'une société par actions de type fermé n'ont pas le droit de se départir librement de leurs actions dans la société et ont un droit de premier achat sur les actions des autres participants.

Spanish

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