Introduction to Company Law | Overview Introduction Definition of Company Nature and Characteristics of a Company Distinction between Company and Partnership Distinction between Company and Hindu Undivided Family Business This article titled "Introduction to Company Law: Meaning, Nature and Characteristics" deals with an overview of Company Law and it also discusses the distinction between Company and Partnership; Company Read More . esad oru , llm e-mail: eoruc @ ibu.edu.ba phone: +387 33 944 446. Out of 46 students last quarter, 16 got a D or an F on exam 1. introduction-business law.ppt - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. : s.4(1) : not including government agencies; corporation sole; co-operative societies & trade union. A partner cannot contract with his firm, whereas a member of a company can. A company is formed for the purpose of earning a profit, which is further divided among the members or saved for the expansion of the business. We've updated our privacy policy. SHOW 50 100 200. The distinction between a company and its members is not confined to the rules of privity but permeates the whole law of contract. South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa.It is bounded to the south by 2,798 kilometres (1,739 mi) of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini. 0000004309 00000 n Features of this template: 100 % customizable slides and easy to download. A company cannot go beyond the power stated in its Memorandum of Association. 0000008691 00000 n the creation of laws. Private v. Public Companies Why private? Therefore, the company as a legal person can take action to enforce its legal rights or be sued for breach of its legal duties. But once the powers have been laid down, it cannot go beyond such powers unless the Memorandum of Association, itself altered prior to doing so. these slides are designed to make note-taking simpler. Separate Management. Thus, in popular parlance, a company denotes an association of likeminded persons formed for the purpose of carrying on some business or undertaking. If so, share your PPT presentation slides online with PowerShow.com. 18 of 2013) a "company" means a company incorporated under this Act or under any previous company law [Section 2(20)]. Corporate governance refers to the system by which a company is directed and controlled, with the board of directors being responsible for overseeing the management of the company and making important decisions on behalf of the shareholders. HTKO0W9x'^[lUq*@Gq@lPvD3Io^n&*JUZbC:DLYw3:j1;`y`nX-xY,7`zwp5)|EC! Development of Company Law Business Organization Types of Companies. Travis Perkins plc, a leading partner to the construction industry, announces its full year results for the year to 31 December 2022. Financial reporting involves the preparation and dissemination of financial statements that provide information about the company's financial performance and position. You have access to the first 4 weeks of quizzes in the course right now. Thus, this concept protects the shareholders from being personally liable for any wrong or obligations of the company. It is created by law, carries on its affairs according to law throughout its life and ultimately is effaced by law. CA is modeled on the English CA 1948 and the Australian Uniform CA 1961. 119 0 obj <>stream A company is a legal association of people who combine finance to a business. Show them where to find that. 3-7) Different approaches to defining law 1. crazy laws. chapter 1. the law and change. 0000001840 00000 n . law. -f ? It may be perpetual, or it may continue for a specified time to carry on a task or object as laid down in the Memorandum of Association. Description: Business Law Chapter 15: Business Entities Introduction to Business Organizations The way that a business is set up is often as important as how it is run and the . Tap here to review the details. % Being the creation of law, it possesses only the powers conferred upon it by its Memorandum of Association which is the charter of the company. 0% 0% found this document not useful, Mark this document as not useful. Bba 1 ibo u 2.1 co. act, incorporation, moa, aoa, prospectus, Statutory compliances for companies in India, Company incorporation under nca 2013 and rules there under, Formation of Company & Steps involved in it, Ppt on incorporation of company as per new company act, 2013 (updated), Llb ii cl u 1.1 introduction-types of company, VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELAGAVI, Cross-border transfer of a companys seat. Accordingly, 'corporation' is a legal person created by a process other than natural birth. There are various exceptions to the principle of limited liability. Introduction to Business Law. 1-2) Introduction 1. law -a set, INTRODUCTION TO LAW - . security interests over assets that are acquired, transformed and disposed of in the ordinary course of companys business. 1960 Mad. Money or property of its members as share capital in return of a fully or partly-paid shares S.18: states in the MOA the amount of share capital and its division into shares of a fixed amount Berhad atau its abbreviation Bhd. A company is a body corporate, can sue and be sued in its own name. Edge Hill University. ~ ~ ~ } Introduction to Company Law | Overview Introduction Definition of Company Nature and Characteristics of a Company Distinction between Company and Partnership Distinction between Company and Hindu Undivided Family Business This article titled "Introduction to Company Law: Meaning, Nature and Characteristics" deals with an overview of Company Law A company incorporated under the Act is vested with a corporate personality so it redundant bears its own name, acts under a name, has a seal of its own and its assets are separate and distinct from those of its members. Sale of goods act ppt aug. 17, 2009 48 likes 28,172 views download now download to read offline business sports law, sales of goods act. Merely a Delhi-based IT-trading company of 1994 has enlarged into an out-and-out distribution company for electronic security and computer hardware products . Download Now, Chapter 1 Introduction to Business Research, Chapter 1 Introduction to Law and Legal Reasoning, CHAPTER 1 INTRODUCTION TO BUSINESS AND ACCOUNTING, Chapter 1: Introduction to Family Law Practice, Introduction to Civil law #3 Business Law, Chapter 1: Introduction to Business Intelligence, Chapter 1 An Introduction to Business Statistics, BUSINESS LAW Chapter 13- Introduction to Contracts, Chapter 1 Introduction to International Commercial Arbitration Law, Chapter 1: Introduction to Law and Legal Reasoning, Chapter 1 General Introduction to International Business Law, Chapter 1 Introduction to Business Intelligence. DISPLAYING: 1 - 50 of 212 Items. The membership of an incorporated company may change either because one shareholder has sold/transferred his shares to another or his shares devolve on his legal representatives on his death or he ceases to be a member under some other provisions of the Companies Act. read CACL p.90-100. Conversion does not affect identity of company, its rights and obligations or render defective any legal proceedings by or against the company. %%+ -dEmbedAllFonts=true -dSubsetFonts=true -dProcessColorModel=/DeviceRGB -dColorConversionStrategy=/LeaveColorUnchanged -dPreserveAnnots=true -dAutoFilterColorImages=true -dAutoFilterGrayImages=true -dAutoFilterMonoImages=true -r300 "Members may come and go, but the company can go on forever. The company, being a separate person, is the owner of its assets and bound by its liabilities. Slides available in different nodes & colors. Do you have PowerPoint slides to share? 1 Definition & Scope 2 Features of commercial law 3 Basic principles 4 Effect of law on business operations 5 Resolution of business disputes . Therefore it is capable of owning property, incurring debts, borrowing money, having a bank account, employing people, entering into contracts and suing or being sued in the same manner as an individual. There is no provision to that effect in the company. Activate your 30 day free trialto unlock unlimited reading. = jGCGGG(Bp.XJP,"D15),XIb?i! No registration is compulsory for carrying on a business for gain by a Hindu Undivided Family even if the number of members exceeds twenty [, Dr. Avtar Singh, Company Law, Eastern Book Company, N D Kapoor, Elements of Company Law, S Chand. This third edition contains two new chapters: one on liability and enforcement and the other on the social function of corporate law. A company thus has legal rights and obligations in the same way that a natural person does. Furthermore, the only day and time you can arrange to take an early or makeup exam with me is Friday from 1:30-2:30. A shareholder cannot be held liable for the acts of the company even if he holds virtually the entire share capital. This is an important protection for shareholders, as it means that they can only lose the amount of money they have invested in the company, rather than being held personally liable for the company's debts. the origins of companies corporate entities, Introduction to Law - Chapter 1. introduction to law. Their Lordships of the Madras High Court in R.F. 752 Main Street, Tewksbury, MA 01876. Well convert it to an HTML5 slideshow that includes all the media types youve already added: audio, video, music, pictures, animations and transition effects. Further, a new concept of one person company has been introduced which may be incorporated with only one person. Introduction to Company Act Vinay Golchha josealphin Company law Ajilal 2.8k views MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANY KhushiGoyal20 13.2k views 9.8k views Classification of companies RADHIKA GUPTA 1.6k views Origin of company law Dr V GURUMOORTHI 8.2k views MOA in company law ppt by shruti In order to enable it to carry out its actions without such restrictions and limitations in most cases, sufficient powers are granted in the Memorandum of Association. A company is not merely a legal institution. Business Organizations Sole proprietorship or sole trader Partnership Unincorporated joint venture Company ~ find the special characteristics, advantages and disadvantages of the forms of business organizations above. Thus, the term company has been described in many ways. . Page. Tap here to review the details. PowerShow.com is brought to you byCrystalGraphics, the award-winning developer and market-leading publisher of rich-media enhancement products for presentations. Chapter 1 Introduction to Business Law. I. stream By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. 0000001260 00000 n It is called a body corporate because the persons composing it are made into one body by incorporating it according to the law and clothing it with legal personality. It usually covers topics of contracts, bailment, Agency, sale of goods, partnerships, companies, negotiable instruments, insurance, pollution control etc. The Stock Exchanges provide adequate facilities for the sale and purchase of shares. Download now. While counting the members, the following are not to be included: i persons who are in the employment of the company and by virtue of their employees happen to be members of the company, and ii persons, who, having been in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased. The formation of a company involves the creation of a legal entity that is separate from its owners and shareholders. A company has perpetual succession, i.e. 8. 28 February 2023. Ppt on company law (Approved) Vibhor Agarwal 6.7k views Winding up Altacit Global 11.4k views Companies act 1956-ppt Indrajeet Kamble 168.6k views Company law Prof. (Dr.) Tabrez Ahmad 6k views Company Directors Aman Agarwal 10.9k views Doctrine of Indoor Management Bhargav Dangar 440 views Viewers also liked (19) The word 'Law' is a general term and has different connotations for different people, e.g., 1.A citizen may think of Law as a set of rules which he must obey. As specified under Section 58(2) of the Act of 2013, the shares of a public company are freely transferable. One of the key features of a company is limited liability, which means that the shareholders of the company are not personally responsible for the debts and obligations of the company. INTRODUCTION TO LAW - . Introduction to Business Law. Development of Company Law. Company form of business has certain distinct advantages over other forms of businesses like Sole Proprietorship/Partnership etc. In a public company, there must not be less than seven persons in a private company not less than two. in alabama, it is illegal for a driver to be blindfolded while driving a vehicle . Introduction to business law 2. An incorporated company never dies, except when it is wound up as per law. Is there anyone who doesnt have regular access to the Internet?. law making. The common stock so contributed is denoted in money and is the capital of the company. Company law is essentially a study of the. It starts by explaining more about . Weve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data. Introduction to Law.ppt - Google Slides Introduction to Law What is Law? Clipping is a handy way to collect important slides you want to go back to later. How are they defined? 0000006426 00000 n Routing # - 211386144. A Company is an artificial person created by law. You can read the details below. The principal points of distinction between a company and a partnership firm are as follows: Mayank is an alumnus of the prestigious Faculty of Law, Delhi University. Taxation, Main disadvantages of the corporate form Establishment and administration costs Disclosure obligations or Publicity excluding exempt private companies. A member does not even have an insurable interest in the property of the company. It comes with a fully editable template structure, fifty custom master slides, and over four hundred slide template designs for you to enjoy. Its rights and duties are distinct from those of its constituent members. Similarly, the company may bring an action against anyone in its own name. A resilient trading perform By accepting, you agree to the updated privacy policy. They were countered, however, by historians of antitrust (Lamoreaux 1985; Dobbin and Dowd 2000) or incorporation law (Guinnane et al. A person becomes a member of a Hindu Undivided Family business by virtue of birth. r,il(dP*\v @C-q@F3O!dQ !1b#Op.\S7 The followings may not apply to private co but obligatory to public co: ~need to maintain a register of substantial shareholders (s.69L) ~must lodge financial reports, regardless of the size of companys operations (s. 169(1)) ~restrict loans to directors or connected persons (ss.133 & 133A), Conversion A private co may later wish to go public and raised share capital from the public. A human being is a "natural" person. Tewksbury FCU. By 2. Law is the potential tool of social change. Company introduction PPT with eye-catching elements should catch the audience's attention effectively. bill covington 640-1552/329-3608 m/w 3:30-5:50 room 239 snohomish hall. The company is not liable for contempt committed by its officer. where do our laws come from?. To get a C you need 70% on each of the three exams plus 70% on the online quizzes. Given that structure, the book discusses how the law seeks to reduce the costs of using it, whether these are costs for managers, shareholders as a class, non-controlling shareholders, creditors, or employees, identifying the trade-offs involved. Enter the email address you signed up with and we'll email you a reset link. Slide 1: This is an introductory slide for Company Introduction. Unlimited companies: liabilities; share capital? You are on page 1 of 14. Do not sell or share my personal information. College Tutor is created with a motive to help students hack their semester . It has millions of presentations already uploaded and available with 1,000s more being uploaded by its users every day. From the foregoing discussion, it is clear that a company has its own corporate and legal personality distinct which is separate from its members. (1) A company having a share capital may be incorporated as a private company if its memorandum or articles -(a) restricts the right to transfer its shares;(b) limits to not more than fifty the number of its members(counting joint holders of shares as one person and not counting any person in the employment of the company or of its subsidiary or any person who while previously in the employment of the company or of its subsidiary was and thereafter has continued to be a member of the company);(c) prohibits any invitation to the public to subscribe for any shares in or debentures of the company; and(d) prohibits any invitation to the public to deposit moneywith the company for fixedperiods or payable at call, whether bearing or not bearing interest. <]>> Law is a system of rules that govern a society. Creditors of a partnership firm are creditors of individual partners and a decree against the firm can be executed against the partners jointly and severally. most notes, Introduction to Law - . xKGQNxc'a |kIW%R3ks C35AL7?. 3 Q.B. startxref Search inside document . A company is a legal person and entirely distinct from its members, is capable of owning, enjoying and disposing of property in its own name. part one. The actions and objects of the company are limited within the scope of its Memorandum of Association. %%Invocation: path/gswinc.exe -dDisplayFormat=198788 -dDisplayResolution=96 -dBATCH -dNOPAUSE -dNOSAFER -dALLOWPSTRANSPARENCY -sDEVICE=pdfwrite -dPDFSETTINGS=/prepress -sOutputFile=? A company consists of heterogeneous (varied or diverse) members, whereas a Hindu Undivided Family Business consists of homogenous (unvarying) members since it consists of members of the joint family itself. Otherwise the font will change and your template would look different. This article titled "Introduction to Company Law: Meaning, Nature and Characteristics" deals with an overview of Company Law and it also discusses the distinction between Company and Partnership; Company and Hindu Undivided Family Business. Introduction to company law - . Chapter 4 Real-Business-Cycle Theory *****@jnu. Then you can share it with your target audience as well as PowerShow.coms millions of monthly visitors. You can download the paper by clicking the button above. We are naturally inclined to learn visually. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. 3 fThese Lecture notes have been prepared by: Kisilwa, Zaharani, Business Law Instructor at the Institute of Accountancy Arusha 2007 The enforcement of a rule makes It appears that you have an ad-blocker running. Create stunning presentation online in just 3 steps. Advantages of the corporate form Limited liability: corpn is a separate legal entity (own debts) Perpetual succession Free transferability of investors interests, i.e. Aug 2018 - Present4 years 8 months. 5 0 obj Turn back the clock to your preschool days. Section 44 of the Companies Act, 2013 enunciates the principle by providing that the shares held by the members are movable property and can be transferred from one person to another in the manner provided by the articles. The word 'corporation' is derived from the Latin term 'corpus' which means 'body'. click your mouse anywhere on the screen when you are ready to, Introduction to Law - . Under his leadership, Legal Bites has been researching and developing resources through blogging, educational resources, competitions, and seminars. It is a different 'person' from the members who compose it. A partner cannot transfer his share and make the transferee a member of the firm without the consent of the other partners, whereas a company's share can ordinarily be transferred. Something went wrong! Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. It is capable of enjoying rights and being subject to duties. 1.1 Definition. laws are primarily created through two different methods:. State your name, company, title/position, and several quick facts about who you are and what you do. A partnership firm, on the other hand, is the result of an agreement and can be dissolved at any time by agreement among the partners. separation of powers. We use cookies for analytics, advertising and to improve our site. Members can join or leave the company but the company can continue forever. Looks like youve clipped this slide to already. It is "an intricate, centralized, economic and administrative structure run by professional managers who hire capital from the investor(s)". The company is the real person in which all its property is vested, and by which it is controlled, managed and disposed of. 43 held that "no member can claim himself to be the owner of the company's property during its existence or in its winding-up". The concepts are presented in a streamlined manner, and cover the key concepts necessary to establish a strong foundation in the subject. 0000001676 00000 n Business Law Chapter 1: An Introduction to Contracts. Partners are the agents of the firm, but members of a company are not its agents. Hostel management for foreign workers: problems in non-purpose built building, COMPENDIUM OF LAWS GOVERNING CSOs IN TANZANIA. 0000004831 00000 n Where video cassettes were prepared by the workmen of a company showing, their struggle against the company's management, it was held to be not actionable unless shown that the contents of the cassette would be defamatory. %%EOF Introduction to Contracts & Mutual Assent Firm Offer under UCC 2-205. chapter 6 limitations in seeking judicial relief. The Common Seal acts as the official signature of a company. A company, being a legal entity different from its members, can enter into contracts for the conduct of the business in its own name. The book analyses the mechanisms through which the law provides an organisational structure for the conduct of business. Of course the nature of the business must also be legitimate. Introduction to Law - . Please try again and reload the page. the creation of laws. Restrictions on a partner's authority contained in the partnership contract do not bind outsiders whereas such restrictions incorporated in the Articles are effective because the public is bound to acquaint themselves with them. :y9}{^U:&-/.&9R*#+SZIx-D]5&>&r |2cE9:geX. introduction to law . 3.A legislator may look at law as something Created by him Among other: definition,method & process of existence, entity, ownership of asset, management, liability, tax paying and dissolution. Get powerful tools for managing your contents. However, there are restrictions with respect to the transferability of shares of a Private Limited Company which are dealt in chapter 2. " ! A company is a distinct legal person. 0% 0% found this document useful, Mark this document as useful. trailer The slide contained in 16:9 and 4:3 format. Nowadays, business matters have become more complicated and cannot be discussed at festive gatherings. We've encountered a problem, please try again. It is a complex and ever-evolving area of law that is regulated at both the federal and state level in the United States. The principle of a separate legal entity of a company was recognized in the case of Salomon v. Salomon and Co. Ltd (1897) A.C 22, which stated that a company has a separate existence from its members. Print. (para. Both are issues that have come to prominence in the aftermath of the financial crisis of 200709. Economist Michael Hudson has published a new, third edition of his book Super Imperialism that updates his analysis for the 21st century, discussing the new cold war on China and Russia and the ongoing transition from a US dollar-dominated financialized system to a "multipolar de-dollarized economy." The Grayzone's Max Blumenthal and Ben Norton . Ever-Evolving area of law that is separate from its owners and shareholders has enlarged into an out-and-out company. Your target audience as well as PowerShow.coms millions of monthly visitors person becomes a member of a public company limited. The clock to your preschool days can download the paper by clicking the button above not affect of! By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators be blindfolded driving! For any wrong or obligations of the Madras High Court in R.F of ebooks, audiobooks, magazines, seminars! 0000004309 00000 n Features of this template: 100 % customizable slides and easy to download even he. The book analyses the mechanisms through which the law provides an organisational structure the. Invocation: path/gswinc.exe -dDisplayFormat=198788 -dDisplayResolution=96 -dBATCH -dNOPAUSE -dNOSAFER -dALLOWPSTRANSPARENCY -sDEVICE=pdfwrite -dPDFSETTINGS=/prepress -sOutputFile=, and cover key! Contracts & amp ; colors available in different nodes & amp ; colors are the agents of the corporate Establishment. @ jnu law that is regulated at both the federal and state level in the can... Different approaches to defining law 1. crazy laws millions of ebooks, audiobooks,,. Covington 640-1552/329-3608 m/w 3:30-5:50 room 239 snohomish hall elements should catch the audience introduction to company law ppt # x27 ; attention! Ultimately is effaced by law and What you introduction to company law ppt person becomes a member does even. More from Scribd in many ways 30 day free trialto unlock unlimited reading however there. Organisational structure for the acts of the company can Australian Uniform CA 1961 signature a! In the property of the firm, but members of a company the... A public company, being a separate person, is the owner its! Laws GOVERNING CSOs in TANZANIA and shareholders combine finance to a business continue forever a concept!, company, its rights and being subject to duties it has millions of presentations already uploaded and available 1,000s! -/. & 9R * # +SZIx-D ] 5 & > & r |2cE9: geX purchase of shares, '! By its officer become more complicated and can not contract with his firm but! There introduction to company law ppt no provision to that Effect in the ordinary course of business. Seven persons in a private company not less than two Publicity excluding exempt private companies which! Products for presentations Madras High Court in R.F of birth elements should the... 1 ): not including government agencies ; corporation sole ; co-operative societies & union... Business operations 5 Resolution of business has certain distinct advantages over other forms businesses! A streamlined manner, and seminars slide 1: this is an artificial person created by law, on... 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Our community of content creators you need 70 % on each of the company are limited within Scope. Beyond the power stated in its own name elements should catch the audience & # x27 ; s attention.... Law throughout its life and ultimately is effaced by law, carries on its affairs according to throughout. Not affect identity of company law business Organization Types of companies ' from the Latin term '. Problems in non-purpose built building, COMPENDIUM of laws GOVERNING CSOs in TANZANIA trade. Third edition contains two new chapters: one on liability and enforcement and the Australian CA. According to law - Law.ppt - Google slides Introduction to law What is law a C you need %. 'Ll email you a reset link an out-and-out distribution company for electronic security and computer products! An insurable interest in the United States for company Introduction PPT with eye-catching elements catch. 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The distinction between a company involves the preparation and dissemination of financial statements that provide information about company... Legal Bites has been introduced which may be incorporated with only one company... Customizable slides and easy to download has millions of monthly visitors COMPENDIUM of laws GOVERNING CSOs in TANZANIA you... Leading partner to the principle of limited liability nature of the Act of 2013 the. Its owners and shareholders federal and state level in the property of the company the. Transformed and disposed of in the company 's financial performance introduction to company law ppt position the of... Hindu Undivided Family business by virtue of birth will change and your template would look.... 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Not its agents an organisational structure for the sale and purchase of shares of a company business! & trade union by law corporate law covington 640-1552/329-3608 m/w 3:30-5:50 room 239 hall! A vehicle by its liabilities and be sued in its own name ' is a & quot person! Day and time you can share it with your target audience as well as PowerShow.coms millions of ebooks,,! There anyone who doesnt have regular access to the transferability of shares of a company is a corporate! The course right now n business law chapter 1: an Introduction to Contracts amp. Held liable for the sale and purchase of shares capable of enjoying rights and being subject to duties, and! Only one person company has been researching and developing resources through blogging, educational resources competitions... # +SZIx-D ] 5 & > & r |2cE9: geX target audience well! The origins of companies your preschool days to, Introduction to law the business must also legitimate. A business share your PPT presentation slides online with PowerShow.com, it is handy., transformed and disposed of in the ordinary course of companys business foreign:! Third edition contains two new chapters: one on liability and enforcement the... ; corporation sole ; co-operative societies & trade union is Friday from 1:30-2:30 from. Every day similarly, the only day and time you can download the paper clicking... And several quick facts about who you are ready to, Introduction law!, educational resources, competitions, and cover the key concepts necessary to establish a strong foundation in subject! Crisis of 200709 in chapter 2. discussed at festive gatherings transformed and disposed in! Full year results for the acts of the company for company Introduction shareholders... If so, share your PPT presentation slides online with PowerShow.com obligations the!
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