Newport University CED‘s operation is based on its corporate charter by competent authority of the Republic of Latvia, which provides it with the legal authority to function as a private non-formal (On-line/Distance) adult educational institution. Newport documents under the 1961 Hague Apostille Convention and the Vienna Convention on Diplomatic Relations are legally recognized worldwide.
Newport University CED is a Linked Enterprise of International Center of Informatization (CII) and the World Distributed University (WDU) by signing a MoU with Infofish Bangladesh Trading Corporation Ltd. and registered in the Republic of Latvia, EU following European Commission (2003): The New SME Definition. User guide and model declaration. Enterprise and Industry Publications and work as an autonomous adult educational institution.
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This type of relationship corresponds to the economic situation of enterprises which form a group through the direct or indirect control of the majority of voting rights of an enterprise by another or through the ability to exercise a dominant influence on an enterprise. Such cases are, thus, less frequent than the two preceding types.
Two or more enterprises are linked when they have any of the following relationships:
– One enterprise holds a majority of the shareholders’ or members’ voting rights in another.
– One enterprise is entitled to appoint or remove a majority of the administrative, management or supervisory body of another.
– A contract between the enterprises, or a provision in the memorandum or articles of association of one of the enterprises, enables one to exercise a dominant influence over the other.
– One enterprise is able, by agreement, to exercise sole control over a majority of shareholders’ or members’ voting rights in another.
A typical example of a linked enterprise is the wholly-owned subsidiary.
Please see Page- 24, Chapter- 2 to know more in details about the LINKED ENTERPRISES status in the, European Commission (2003): The New SME Definition. User guide and model declaration. Enterprise and Industry Publications.
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