Legal Alert - Vietnam - First draft Decree on mechanisms and policies to enco...
Business law of an event management firm
1.
2. Babar Khan
School of Business and Economics
United International University
Raisa Kabir Nidha
School of Business and Economics
United International University
Kaniz Fatema
School of Business and Economics
United International University
Mohammad Azizul Haque
School of Business and Economics
United International University
3. Company Overview
Joyous Event Management Ltd- Private Limited Company
Mission
Provide best customer service
Become the leader of the market with loyal customer
followings
Generate sufficient profit to achieve growth and create
value
4. Products and Services
Corporate Services Private Services
Marketing Plan
Target Market
Market Demographics-
Geographic &
Demographic
Operational Plan
Capacity-
Able to handle two large programs at a
time
-We finish every task in time
-We use latest technology and equipment
-We have efficient work team
6. The Companies Act (Bangladesh), 1994
Joyous Event Management Ltd- Private Limited Company
According Section 2(q), "private company" means–
(i) restricts the right to transfer its shares,
(ii) prohibits to sell share to the public,
(iii) limits the number of its members from two to fifty
-Collection name clearance
-Document preparation stage— Memorandum of Association & Articles of Association
-Certificate of incorporation collection stage
7. THE INCOME TAX RULES, 1984
A Federal Tax Identification Number- To distinguish our business as a
separate legal entity
Charge of income-tax- income-tax shall be charged for any assessment
year at any rate or rates in respect of the total income of the income year
Income from business or profession- Profits and gains of any business
carried on, by the assesse at any time during the income year
8. THE TRADE ORGANISATIONS ORDINANCE, 1961
Trade License is mandatory for every form of business entity in
Bangladesh
It is issued by the local government of the respective areas—
It is issued for one year and have to be renewed annually
No trade organization shall be registered under the Act unless
it holds a license granted by the Government authorizing it to
be so registered.
9. The Value Added Tax and Supplementary Duty Act, 2012
Vat Registration- Able to charge VAT on the services sold to
customers
Make an application to the Commissioner for VAT registration—
Within such time, on such terms and in such manner as may be prescribed
The Commissioner-- VAT registration certificate-- business identification
number
10. THE INSURANCE ACT, 1938
Keep safe from risk-- Equipment, Furniture and Assets--
Fire- Injury claims
Policy-holder-- a person or group in whose name an insurance
policy is held
-Fire insurance will cover any damage by the fire
-Health insurance will cover bodily injury
11. Trademarks Act, 2009
Trademark Registration-- Name, Design and Symbol of our
event management firm
Apply in writing to the Registrar for the registration of
trademark
Department Trademarks Registry-- territorial jurisdiction over the
principal place of business in Bangladesh
After filing the application, the Registrar may either accept or reject
or order to correct or modify the application.
12. THE NARCOTICS CONTROL ACT, 1990
License- In different events we will need to serve alcoholic
products
The Director General shall issue license, permit and pass—
Under prescribed conditions and payment of fees
License, permit or pass shall remain valid–
Fixed time period- financial year from the date of its issue
14. Bangladesh Contract Law 1872
Written contract-- client, payments, cancellation, and vendors
Customers- To provide our services
Suppliers- To get different materials within a specific time
Legal support is will be available if we make contracts before
any transection
15. PAYMENT OF WAGES ACT, 1936
Every employer— Responsibility
For the payment to persons employed by him of all wages
required to be paid under this Act
All wages shall be paid—
current coin or currency notes or in both
Deductions for absence from duty- Deductions may be made on
account of the absence- place or places where he works
16. THE BANGLADESH LABOUR ACT, 2006
An adult worker shall not work— more than eight hours
Every owner— liable for payment of all such wages
Keep clean and keep free from the polluted vapor–
The waste of the organization, floor, activity, stair, and daily use of
bamboo and garbage in proper manner Shall be removed
If a worker is injured in the body due to the accident—
The owner will be obliged to pay the reimbursement
17. The Consumers’ Right Protection Act, 2009
In the absence of consumer protection— consumers were exploited
Anti-consumer right practice-
-Sell service at a higher price than the fixed price
-Sell or offer to sell any goods which is extremely injurious to human health
-Deceive consumers by untrue or false advertisement
Prohibition on manufacturing, selling etc. of goods injurious to human health—
Director General- issue direction for stopping the production
Careful to provide- foods, drinking water, soft drinks, flowers etc.
18. THE INDECENT ADVERTISEMENTS PROHIBITION ACT, 1963
No person shall take any part in the publication of any advertisement—
indecent
No person having the ownership, possession or control of any property or
public place shall knowingly allow any advertisement—
indecent
Penalty—
-in the case of a first conviction— with imprisonment which may extend to six months, or
with fine, or with both,
-in the case of any subsequent conviction— with imprisonment which may extend to one
year, or with fine, or with both
19. Information and Communication Technology Act, 2006
The primary reason of data protection—
minimizing financial loss, compliance with regulatory requirements, maintaining high
levels of productivity, and meeting customer expectations
Secure electronic record-- If any security procedure is taken for any electronic record
at a particular time—
Then such record shall be deemed to be a safe electronic record till the time of verification
Offense of privacy-- Any person is accessed in electronic records, books, registers,
correspondence, information, documents or any other subject— Without the consent of the
concerned person—
Then this act shall be a crime
Penalties-- If a person commits an offense— punished with imprisonment not less than
two years, or with fine not exceeding two hundred thousand taka, or both
21. The Companies Act (Bangladesh), 1994
Joyous Event Management Ltd- Private Limited Company
Company Eradication-
A company can be abolished in the following manner, namely—
(a) by the court, or
(b) voluntarily, or
(c) under the supervision of the court
22. The disappearable situation of the company by the court-
- If the company receives a special resolution
- If the company is unable to pay its debt
- If within one year after the company is incorporated, the company does
not commence its functions or its activities are closed for one year
- If the court feels that destruction of the company is right and fair
23. Voluntary winding situation
- If the company's working has been determined by the constitution—
if it has passed
-If the company accepts an extraordinary (extra-ordinary) decision on
its behalf that due to the liability of the company—
Its functions cannot be continued and therefore its abolition
is justified
- If the company takes special decision that the voluntary removal of
the company
24. The inclusion of order to override supervision suppression
If a company adopts a voluntary winding up proposal in its special or
extraordinary resolution— The court may order such that the winding up
process, the company's creditor, contributor, and others—
Under the supervision of the court