Jack has operated a house building business as a sole trader for number of years. Now, his accountant has suggested that he should consider registering as a company in order to gain the advantages of separate personality. He is unclear as to what is meant by this and seeks advice from you. In this context, elucidate to him:
problem 1: The meaning of doctrine of separate legal personality and its likely consequences.
problem 2: The circumstances under which this doctrine will be ignored by Courts.
problem 3: The limitations imposed by Companies Act 2001 on company names which can be employed for registration of a company.