Misplaced Pages

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18-781: Apart from rates and services, the BCUC is also responsible for ensuring that shareholders of utilities are afforded a reasonable opportunity to earn a fair return on their invested capital , that competitive interests are not frustrated, and that government energy policy is practically implemented. In addition, it approves the development of infrastructure planned by utilities and their issuance of securities , establishes tolls and conditions of service for intraprovincial oil pipelines , and has responsibility for electric power transmission facilities and energy supply contracts . The BCUC also reviews energy-related matters referred to it by Cabinet , which usually involve public hearings, followed by

36-434: A body politic , a trust or partnership ) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation . Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law

54-441: A commission that is commonly built into the price of the security offering, though it can be found in the prospectus . IPOs are not the only way new securities are issued. Publicly traded companies can issue new shares in what is called a primary issue of debt or stock, which involves the issue by a corporation of its own debt or new stock directly to buyers like pension funds , or to private investors and shareholders. Since

72-511: A company (in the United States commonly referred as common stock) is usually referred to as an ordinary shareholder. This type of shareholding is the most common. Ordinary shareholders have the right to influence decisions concerning the company by participating at general meetings of the company and in the election of directors and can file class action lawsuits, when warranted. Preference shareholders are owners of preference shares (in

90-405: A corporation generally governs a corporation for the benefit of shareholders. Shareholders are considered by some to be a subset of stakeholders , which may include anyone who has a direct or indirect interest in the business entity . For example, employees , suppliers , customers , the community , etc., are typically considered stakeholders because they contribute value or are impacted by

108-415: A primary market, companies, governments, or public sector institutions can raise funds through bond issues , and corporations can raise capital through the sale of new stock through an initial public offering (IPO). This is often done through an investment bank or underwriter or finance syndicate of securities dealers. The process of selling new shares to buyers is called underwriting . Dealers earn

126-465: A report and recommendations to Cabinet. With respect to ICBC, the Commission is responsible for ensuring that service to basic automobile insurance policyholders is adequate, efficient, just and reasonable, and that ICBC optional insurance is not subsidized by other ICBC operations. The BCUC has quasi-judicial responsibilities, and may make legally binding rulings (subject to court appeal). It

144-722: Is governed by its enabling statute, the Utilities Commission Act , other legislation and regulations including the Administrative Tribunals Act, Pipeline Act , and — with respect to ICBC — provisions of the Insurance Corporation Act . The BCUC works to maintain processes that are fair, transparent and inclusive. The BCUC values input from British Columbians, and is committed to issuing well-reasoned, evidence-based decisions. In addition to its regulatory responsibilities,

162-491: The corporation . A beneficial shareholder is the person or legal entity that has the economic benefit of ownership of the shares, while a nominee shareholder is the person or entity that is on the corporation's register of members as the owner while being in reality that person acts for the benefit or at the direction of the beneficial owner, whether disclosed or not. Primarily, there are two types of shareholders. An individual or legal entity that owns ordinary shares of

180-456: The Commission provides the following services and assistance: The Commission has been self-funded since 1988. Its annual budget ranges from $ 4.6 to $ 4.7 million, with its costs recovered primarily through a levy on the energy utilities and pipelines companies that it regulates. The BCUC describes its mission as follows: The BCUC's mission is to ensure that ratepayers receive safe, reliable and non-discriminatory energy services at fair rates from

198-499: The United States commonly referred as preferred stock). They are paid a fixed rate of dividend, which is paid in priority to the dividend to be paid to the ordinary shareholders. Preference shareholders usually do not have voting rights in the company. Subject to the applicable laws, the rules of the corporation and any shareholders' agreement , shareholders may have the right: The above-mentioned rights can be generally classified into (1) cash-flow rights and (2) voting rights. While

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216-461: The company will be with that person. Shareholders may have acquired their shares in the primary market by subscribing to the IPOs and thus provided capital to the corporation. However, most shareholders acquire shares in the secondary market and provided no capital directly to the corporation. Shareholders may be granted special privileges depending on a share class . The board of directors of

234-399: The corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself. The influence of shareholders on the business is determined by the shareholding percentage owned. Shareholders of corporations are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and

252-432: The issuance and sale of securities to purchasers directly by the issuer , with the issuer being paid the proceeds. A primary market means the market for new issues of securities, as distinguished from the secondary market , where previously issued securities are bought and sold. A market is primary if the proceeds of sales go to the issuer of the securities sold. Buyers buy securities that were not previously traded. In

270-457: The securities are issued directly by the company to its buyers, the company receives the money and issues new security certificates to the buyers. The primary market plays the crucial function of facilitating capital formation within the economy. The securities issued at the primary market can be issued in face value , premium value, or at par value . Primary markets create long-term instruments through which corporate entities raise funds from

288-450: The shareholders' liability for company debts is said to be limited to the unpaid share price unless a shareholder has offered guarantees. The corporation is not required to record the beneficial ownership of a shareholding, only the owner as recorded on the register. When more than one person is on the record as owners of a shareholding, the first one on the record is taken to control the shareholding, and all correspondence and communication by

306-449: The utilities it regulates, and that shareholders of those utilities are afforded a reasonable opportunity to earn a fair return on their invested capital. This British Columbia -related article is a stub . You can help Misplaced Pages by expanding it . Shareholder A shareholder (in the United States often referred to as stockholder ) of corporate stock refers to an individual or legal entity (such as another corporation ,

324-404: The value of shares is mainly driven by the cash-flow rights that they carry (" cash is king "), voting rights can also be valuable. The value of shareholders' cash-flow rights can be computed by discounting future free cash flows. The value of shareholders' voting rights can be computed by four methods: Primary market The primary market is the part of the capital market that deals with

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