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  3. Law: Contract(s)

apartado correspondiente a la reserva legal

English translation: (the set-aside as an) apposite appropriation to the legal reserve

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:apartado correspondiente a la reserva legal
English translation:(the set-aside as an) apposite appropriation to the legal reserve
Entered by: Adrian MM.

20:15 Jan 24, 2020
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / articles of association
Spanish term or phrase: apartado correspondiente a la reserva legal
Entre las atribuciones de la junta directiva figura la siguiente:

Determinar el apartado correspondiente a la reserva legal y los demás que se considere necesario o conveniente establecer.

I wonder if "apartado" is fund in this context.

Thanks for the help
Silcubo
the set-aside as an appropriation to the legal reserve
Explanation:
correspondiente a IMO is ambiguous, as it could mean either the relevant 'apartado' as a set aside to or the set-aside matching the statutory etc. reserve.

I reckon apartado (as entered in my own glossary as an a/c appropriation) is not exactly the same as a dotación - as a financial provision - but an appropriation (vs. apportionment).

Contrary to what an apparently UK-qualified accountant claimed on a FRE/ENG question last year, it is a standard accountancy term in the UK used, for instance, by the lawyers and auditors at the ex-Pergamon Press when instructing my former translation office in London to extract info. from non-English Excel ! Company Cards, namely either 1. distribution of profit or 2. appropriation to reserves/ roll-over of a *loss*. Alas, the term is also used for a drawing, namely an appropriation out of a reserve.

Reserva legal: legal reserve (created under Spanish company legislation): Ernst & Whinney ES/EN Dictionary of the Language of Financial Reports.
Selected response from:

Adrian MM.
Austria
Grading comment
¡Muchas gracias!
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2the set-aside as an appropriation to the legal reserve
Adrian MM.


  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
the set-aside as an appropriation to the legal reserve


Explanation:
correspondiente a IMO is ambiguous, as it could mean either the relevant 'apartado' as a set aside to or the set-aside matching the statutory etc. reserve.

I reckon apartado (as entered in my own glossary as an a/c appropriation) is not exactly the same as a dotación - as a financial provision - but an appropriation (vs. apportionment).

Contrary to what an apparently UK-qualified accountant claimed on a FRE/ENG question last year, it is a standard accountancy term in the UK used, for instance, by the lawyers and auditors at the ex-Pergamon Press when instructing my former translation office in London to extract info. from non-English Excel ! Company Cards, namely either 1. distribution of profit or 2. appropriation to reserves/ roll-over of a *loss*. Alas, the term is also used for a drawing, namely an appropriation out of a reserve.

Reserva legal: legal reserve (created under Spanish company legislation): Ernst & Whinney ES/EN Dictionary of the Language of Financial Reports.

Example sentence(s):
  • A reserve is an *appropriation* of profits for a specific purpose. The most common reserve is a capital reserve, where funds are set aside to purchase fixed assets.

    Reference: http://www.proz.com/kudoz/spanish-to-english/finance-general...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 278
Grading comment
¡Muchas gracias!

Peer comments on this answer (and responses from the answerer)
agree  Robert Carter: Yes, I think so too. In Mexico it's normally an amount set aside to top up this reserve before dividends are distributed.
3 hrs
  -> Thanks and gracias! I somehow tried to dodge the double.up of an 'appropriate' appropriation, all the while chanting the mantra of the latter's UK / US accounting credibility.
agree  John Rynne: I'd just say "the appropriation to the statutory reserve"
12 hrs
  -> Thanks. I had a problem with the corresponding, though, namely an 'appropriate' appropriation.
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