Limited liability company and NIPS Code: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Mend link.)
 
imported>Doug Williamson
(Note successor codes.)
 
Line 1: Line 1:
In a limited liability company the liability of the members is restricted to a predefined amount.
''UK''


In the case of a company ''limited by shares'' the members' liability is restricted to the amount, if any, unpaid on the shares they hold.  
The former Non-Investment Products Code.


Almost all commercial companies are of this type.
The NIPS code has now been superseded.


The successor codes are the FX Global Code and the UK Money Markets Code.


In a company ''limited by guarantee'' the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company).
The former NIPS code covered standards, [[controls]] and dealing [[mandate]]s in the UK's wholesale financial markets.


Its scope included wholesale markets in:
*Sterling wholesale deposits;
*Foreign currency wholesale deposits;
*Gold and silver bullion wholesale deposits;
*Spot and forward foreign exchange; and
*Spot and forward gold and silver bullion.


Often abbreviated to 'limited company'.


== See also==
* [[Code of practice]]
* [[Foreign exchange]]
* [[Forward]]
* [[FX Global Code]]
* [[Non-investment product]]
* [[UK Securities Lending, Repo and Money Markets Code]]
* [[Spot]]
* [[Wholesale]]


== See also ==
[[Category:Compliance_and_audit]]
* [[Guarantee]]
* [[Limited liability]]
* [[Member]]
* [[Public limited company]]
* [[Share]]
* [[Unlimited company]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 22:10, 12 June 2017

UK

The former Non-Investment Products Code.

The NIPS code has now been superseded.

The successor codes are the FX Global Code and the UK Money Markets Code.

The former NIPS code covered standards, controls and dealing mandates in the UK's wholesale financial markets.

Its scope included wholesale markets in:

  • Sterling wholesale deposits;
  • Foreign currency wholesale deposits;
  • Gold and silver bullion wholesale deposits;
  • Spot and forward foreign exchange; and
  • Spot and forward gold and silver bullion.


See also