statement of guarantee

17:59 Jan 17, 2021
English to Polish translations [PRO]
Bus/Financial - Law: Contract(s)
English term or phrase: statement of guarantee
a current statement of capital (or statement of guarantee for a company limited by guarantee)
nest0r171
Poland


Summary of answers provided
4oświadczenie gwarancyjne
Justyna Fajkowska
Summary of reference entries provided
What is a Statement of Guarantee?
mike23

  

Answers


14 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
oświadczenie gwarancyjne


Explanation:
Art. 5771 kodeksu cywilnego

§ 1. Gwarant formułuje oświadczenie gwarancyjne w sposób jasny i zrozumiały, a gdy rodzaj informacji na to pozwala – w powszechnie zrozumiałej formie graficznej.



Example sentence(s):
  • Gwarant formułuje oświadczenie gwarancyjne w sposób jasny i zrozumiały, a gdy rodzaj informacji na to pozwala – w powszechnie zrozumiałej formie graficznej.

    https://www.dziennikprawny.pl/pl/a/przepisy-przejsciowe
Justyna Fajkowska
United Kingdom
Local time: 18:42
Native speaker of: Native in PolishPolish
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Reference comments


18 hrs
Reference: What is a Statement of Guarantee?

Reference information:
What is a Statement of Guarantee?

To register a company limited by guarantee, the subscribers (guarantors) must complete a Statement of Guarantee during the company formation process. This is a statutory requirement under section 11 of the Companies Act 2006 and outlines the circumstances under which the guarantors have to pay their guarantees.

Each subscriber named on the memorandum of association must agree to the following Statement of Guarantee:

I confirm that if the company is wound up while I am a member, or within one year after I cease to be a member, I will contribute to the assets of the company by such amount as may be required for:

- payment of debts and liabilities of the company contracted before I ceased to be a member;
- payment of costs, charges and expenses of winding up, and;
- adjustment of the rights of the contributors among ourselves, not exceeding the specified amount below.

https://www.rapidformations.co.uk/blog/companies-limited-by-...

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Note added at 18 hrs (2021-01-18 12:35:06 GMT)
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A statement of guarantee must also accompany the incorporation documents (this is provided for in the form IN01). The statement of guarantee is a statement given by each of the members of the CLG stating that in the event the CLG is wound up whilst they are a member (or within one year of them ceasing to be a member), they will contribute a specified amount to the assets of the CLG. This amount is usually a nominal sum of money such as £1.
...
A member’s liability will be limited to the amount of their guarantee under the statement of guarantee if the CLG is wound up. In practice, the liability of members is usually capped at a nominal amount, meaning that members’ liability is limited to this small nominal amount.
...
Generally speaking, members do not contribute anything in exchange for becoming a member of a CLG, other than a promise to contribute to the assets of the company up to the guarantee amount (the amount set out in the statement of guarantee) on a winding up. In addition, members do not receive any income from the profits of the company; therefore, there are generally no tax implications for members of CLGs.
http://sesg.trust.org/documents/private-company-limited-by-g...



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Note added at 18 hrs (2021-01-18 12:53:12 GMT)
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IN01 Application to register a company
In accordance with Section 9 of the Companies Act 2006.
...
Part 4 Statement of guarantee [see page 15]

Subscribers

I confirm that if the company is wound up while I am a member, or within one year after I cease to be a member, I will contribute to the assets of the company by such amount as may be required for:
- payment of debts and liabilities of the company contracted before I cease to be a member;
- payment of costs, charges and expenses of winding up, and;
- adjustment of the rights of the contributors among ourselves,not exceeding the specified amount below
...
Subscriber’s details
Forename(s) / Surname / Address / ... / Amount guaranteed
...
https://assets.publishing.service.gov.uk/government/uploads/...

mike23
Poland
Specializes in field
Native speaker of: Native in PolishPolish
PRO pts in category: 1233
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