I was reading Securities law and I found that there are different rules for company and a body corporate. by searching on net I found out that body corporate is a wider term,but can anybody give me specific example. I am a bit confused
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Difference between a body corporate and company????
Replies (3)
it is a buss. or commercial word. it means & includes all public co., pvt co, sec25 co. NGOs, Govt. co, foreign co, statutory corporations & any other body or group which enjoys seperate legal status & ltd liability of members.
take the ex. of Reliance and the Red Cross
Both r body corporates but Reliance is a Co. & The Red Cross is a NGO.
So All companies are body corporate but all body corporates need not be company.
Actually, in the provisions of Companies Act, it is given that a Company is a Company which is registered under the said act.
The term body corporate include all those companies also which were registered before formation of Companies Act 1956 i.e. the companies which were registered before 1956.
Thanks.
Can a company and its employee is termed as single body corporate or otherwise
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