united nations conference on trade and development (unctad)

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD). United nations conference on trade and development. The formation of the United Nations conference on trade and developments

What is united nations conference on trade and development UNCTAD

Formation: The UNCTAD was established in 1964 with its headquarters in Geneva, Switzerland. It was created as an organ of the United Nations by a resolution passed by the United Nation Organisation (UNO).

This was in response to a call to the UNO by the developing nations, to convene a meeting for the purpose of discussing their growing international trade problems and their poor level of development and the wide gap between the standard of living of the advanced and the underdeveloped countries. The first conference was held in Geneva, Switzerland in 1968, and the second in New Delhi, India in 1978.

Objectives and functions of united nations conference on trade and development UNCTAD

  1. To assist in solving the international trade problems of the underdeveloped countries
  2. It also helped to solve increasing balance of payments difficulties of developing countries
  3. To also aid the increase in the pace of economic development of underdeveloped nations, in order to reduce the gap between them and the rich countries in the world.

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Types of Companies Under Limited Liability Companies

(1)       Companies limited by guarantee: Companies limited by guarantee are not formed with the aim of engaging in trading activities or making profits. They are often formed by societies and other charitable contributions from members of the public to promote and develop certain interests or professions. The liability of its members is limited by the Memorandum of Association to such an amount as the members may have undertaken to contribute to the assets in the event of its being wound up. Guarantee companies are usually formed for the furtherance of art, science, education, religion and charity.

(2)        Companies limited by shares: Companies limited by shares are the companies in which the liability of the shareholders is limited to the full value of the shares they have acquired. In case of liquidation, the shareholders will only be liable to the full extent of their shares contributed as capital. They normally engage in business activities to make profit. Section 21(1) of the Company and Allied Matters Act, 1990 defined a company limited by shares as: “A Company having the liability of its members limited by memorandum to the amount, if any, unpaid on the shares held by them.”


Private limited liability company is de one which by its articles restricts the right transfer its shares, limits the number : shareholders from two to fifty, prohibits invitation to the public to subscribe to its shareholders and the name of the private company >>>> with “Limited”, e.g. Bluebird Nigeria Limited.

  •  Public limited liability company: Public liability company is defined as one which. articles allows the public to subscribe shares, must have a minimum of seven persons but no maximum number is prescribed. It allows the shares to be transferred and the name of the public company must end with “Plc.’ Zenith Bank Plc., Guinness Nigeria Plc., L Nigeria Plc., and First Bank Pc. This is the type that is popularly referred to as Joint Company.



  •  Legal entity or status: Both com­panies legal entities, which means that can sue and be sued in their own names due to the fact that both are registered companies. The business name is ” from the owners’ names.
  •  Limited liability: Both companies limited liability, meaning that in the of liquidation, the shareholders can lose the value attached to the shares contributed.

Continuity of existence: The chances of continuity or existence of both companies are high

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