1. TASK: Insert the appropriate word in the text below:
watered down - virtually - varies - smoothly - restrictions - permit
particulars - maintenance - individuals - file - fetters - enacted
common - capitalization - capacity - available - assistance - access
Another __________ characteristic of offshore companies is the limited amount of information __________ to the public. This __________ from jurisdiction to jurisdiction. At one end of the scale, in the Cayman Islands and Delaware, there is __________ no publicly available information. But at the other end of the scale, in Hong Kong companies __________ annual returns with __________ of directors, shareholders and annual accounts. However, even in jurisdictions where there is relatively little information available to the public as of right, most jurisdictions have laws which __________ law enforcement authorities (either locally or from overseas) to have __________ to relevant information, and in some cases, private __________.
In relation to flexible corporate law, most offshore jurisdictions will normally remove corporate __________ such as thin __________ rules, financial __________ rules, and limitations on corporate __________ and corporate benefit. A number have also removed or __________ rules relating to __________ of capital or __________ on payment of dividends. Beyond the common themes, a number of jurisdictions have also __________ special corporate provisions to try and attract business through offering corporate mechanisms that allow complex business transactions or reorganisations to occur more __________.
2. CHECK YOUR SPEAKING
|
access |
[ ˈækses ] |
доступ |
|
assistance |
[ əˈsɪstəns ] |
допомога |
|
available |
[ əˈveɪləbl ] |
доступний, готівковий |
|
capacity |
[ kəˈpæsəti ] |
потужність |
|
capitalization |
[ ˌkæp.ɪ.təl.aɪˈzeɪ.ʃən ] |
капіталізація |
|
common |
[ ˈkɒmən ] |
поширений |
|
enacted |
[ ɪˈnækt ] |
прийнятий |
|
fetters |
[ ˈfet.əz ] |
кайдани |
|
file |
[ faɪl ] |
здавати звіт в податкову |
|
individuals |
[ ˌɪn.dɪˈvɪd.ju.əl ] |
фізичні особи |
|
maintenance |
[ ˈmeɪn.tɪ.nəns ] |
ведення |
|
particulars |
[ pəˈtɪk.jʊ.lər ] |
детальний звіт |
|
permit |
[ pəˈmɪt ] |
дозволяти |
|
restrictions |
[ rɪˈstrɪk.ʃən ] |
обмеження |
|
smoothly |
[ ˈsmuːðli ] |
гладко, рівно |
|
varies |
[ ˈveə.ri ] |
мінятися |
|
virtually |
[ ˈvɜːtʃuəli ] |
практично, по суті, дійсно |
|
watered down |
[ ˈwɔː.tər daʊn ] |
розмивати |
3. SEE CORRECT ANSWER
Another common characteristic of offshore companies is the limited amount of information available to the public. This varies from jurisdiction to jurisdiction. At one end of the scale, in the Cayman Islands and Delaware, there is virtually no publicly available information. But at the other end of the scale, in Hong Kong companies file annual returns with particulars of directors, shareholders and annual accounts. However, even in jurisdictions where there is relatively little information available to the public as of right, most jurisdictions have laws which permit law enforcement authorities (either locally or from overseas) to have access to relevant information, and in some cases, private individuals.
In relation to flexible corporate law, most offshore jurisdictions will normally remove corporate fetters such as thin capitalization rules, financial assistance rules, and limitations on corporate capacity and corporate benefit. A number have also removed or watered down rules relating to maintenance of capital or restrictions on payment of dividends. Beyond the common themes, a number of jurisdictions have also enacted special corporate provisions to try and attract business through offering corporate mechanisms that allow complex business transactions or reorganisations to occur more smoothly.
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