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THE SENTENCE OF A COURT IN BRITAIN

I. Read and memorize the following words and word combinations:

Punishment , conditional discharge , guilty , to commit a crime , probation , minor offence , to sentence , to imprison , death penalty , life sentence .

 

II. Read and traslate the text.

If it is someone's first offence and the crime is a small one, even a guilty person is often unconditionally discharged. He or she is set free without punishment.

The next step up the ladder is a conditional discharge. This means that the guilty person is set free but if he or she commits another crime within a stated time, the first crime will be taken into account. He or she may also be put on probation, which means that regular meetings with a social worker must take place.

A very common form of punishment for minor offences is a fine, which means that the guilty person has to pay a sum of money.

Another possibility is that the convicted person is sentenced to a certain number of hours of community service.

Wherever possible, magistrates and judges try not to imprison people. This costs the state money, the country's prisons are already overcrowded and prisons have a reputation for being schools for crime. Even people who are sent to prison do not usually serve the whole time to which they were sentenced. They get remission of their sentence for good behavior.

There is no death penalty in Britain, except for treason. It was abolished for all other offences in 1969. Although public opinion polls often show a majority in favor of its return, a majority of MPs has always been against it. For murderers there is an obligatory life sentence. However, life doesn't normally mean life.

III. Agree or disagree with the statements:

1. A person may be unconditionally discharged if it is someone's first offence and the crime is a small one.

2. A conditional discharge means that the guilty person is set free even after committing another crime within a stated time.

3. To be put on probation means to have regular meetings with a social worker.

4. A very common form of punishment for serious offences is a fine.

5. A convicted person may be sentenced to some hours of community service.

6. Magistrates and judges try always to imprison people.

7. The country's prisons have a reputation for being schools for life.

8. The prisoners remission of their sentence for good behavior.

9. There is still a death penalty in Britain.

10. For murderers there is an obligatory life sentence in Britain.

 

IV. Answer the questions:

1. What are the most common types of punishment in Britain?

2. Should fine be imposed for minor offences?

3. What does a conditional discharge of a person mean?

4. Do magistrates and judges have the power to imprison people?

5. For what crimes are the people punished by life sentence?

V. Match the first part of the sentence (1-5) with the second one (a-e).

There is no death penalty in Britain, a even a guilty person is often unconditionally discharged.
The convicted person may be sentenced b that the guilty person has to pay a sum of money.
A fine as a form of punishment for minor offences means c except for treason.
A conditional discharge means that the guilty person is set free d to a certain number of hours of community service.
If it is someone's first offence and the crime is a small one, e but if he commits another crime, the first crime will be taken into account.

VI.Make up a plan of the text.

UNIT 13

FINANCIAL LAW

FINANCES AND FINANCIAL LAW

I. Read and memorize the following words

Provision, relation, formation, insurance, to comprise, encouragement, priority, expenditure, autonomous, recurrent.

II. Read and translate the text.

Finance is the provision of money at the time when it is needed. It is a system of monetary relations leading to formation, distribution and use of money in the process of its turnover between economic entities.-

The financial system is the network of institutions through which firms, households and units of government get the funds they need and put surplus funds to work.

Savers and borrowers are connected by financial intermediaries including banks, thrift institutions, insurance companies, pension funds, mutual funds, and finance companies.

Finance in an economic system comprises two parts: public finance and finance of economic entities.

Public finance is the provision of money (by the community through taxes) to be spent by national and local government authorities on projects of national and local benefit. It is a collective term for the financial flows and also the financial institutions of the public sector.

Public finance has the following four functions:

a) the provision of essential services;

b) the encouragement or control of particular sectors of the economy;

c) the implementation of social policy in respect of social services;

d) the encouragement of the growth of the economy as a whole.
The major instrument of any financial system is the budget. In a market-oriented economy, the budget is the most important tool for achieving national priority and goals through the allocation and distribution of resources, and the maintenance of stable macroeconomic environment.

The budget is an estimate of national revenue and expenditure for the ensuing fiscal year. When expenditure exceeds the revenue the budget has a deficit.

Financial law deals with the broad range of savings and investments products in which individuals, businesses and institutions hold trillions dollars, and the services related to those products. The products and services play a vital role in the word economy and directly employ millions of individuals in the United States. They include:

1) Banking (whether at banks, trust companies, savings bank, savings and loans or credit unions)

2) Brokerage services (covered under Broker Disputes)

3) Commodities

4) Consumer lenders (including credit card issuers)

5) Insurance including annuities (which is covered in a Practice Area of its own)

6) Investment advisors

7) Mortgages (which are covered as a tonic in Real Estate)

8) Mutual funds (a type of security)

9) Stocks and bonds (covered under Securities)

 

III. Vocabulary list

Public finance (s) ;

provision - , ;

monetary relations - ;

formation - , ;

distribution - ;

turnover , ;

economic entity- ';

network of institutions - ();

household - ;

unit of government - ;

funds - , , ,

surpuls - , ;

saver - ;

borrower - ;

intermediary - ;

thrift institution - ;

insurnce company ;

pension fund - ;

mutual fund- ;

finance company ;

comprise - , , ;

community -, , ' ;

t - ;

government authorities - , ;

benefit - , , ;

financial flows ;

encouragement - , , ;

rtiular - , ;

implementation , ;

social l - ;

budget ;

goal , ;

maintenance of stable macroeconomic environment - ;

estimate , ;

revenue(s) ();

fiscal year ;

expenditure - ;

deficit , ;

forecasting - ;

budget preparation ;

adequate planning ;

planning of recurrent and capital expenditure ;

critically ;

accurate forecast ;

availability - ;

determination of the overall deficit , ;

macroeconomic impact ;

tax collection , ;

extrabudgetary and reserve funds ;

increasingly , ;

autonomous budget ;

to compile and present the budget .

 

IV. Find the equivalents:

1. intermediary a)

2. revenue(s) b)

3. market-oriented economy c)

4. financial flows d)

5. extrabudgetary and reserve funds e)

6. insurance company f)

7. borrower g)

8. autonomous budget h)

9. financial system i)

10. network of institutions j)

11. local benefit k)

12. saver l)

13. pension fund m)

14. fundamental step n) ,

15. the implementation o)

of social policy

V. Find English equivalents for the following Ukrainian phrases:

C ; , , ; '; ' ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;

VI. Fill in the blanks below with the appropriate terms from the list:

 
 
term; budget; budget preparation; fiscal year; revenue; formation; economic system; economic entities; financial institutions; financial intermediaries; expenditure; distribution  

 

 


1. The finance is a system of monetary relations leading to ______,use and _____ of money.

2. Savers and borrowers are connected by_______.

3. Finance in an ______comprises two parts: public finance and finance of ________.

4. Public finance is a collective _______for the financial flows and also the ______of the public sector.

5. _______ is the major instrument of any financial system .

6. The budget is an estimate of national ________ and expenditure for the ensuing _______.

7. Revenue and ______ forecasting is the most fundamental step in the process of _______.

VII. Complete the following sentences:

1. Finance is the provision of .

2. Finance is a system of .

3. Finance in an economic system comprises parts: .

4. The budget is the most important tool for .

5. The budget is an estimate of .

6. The budget has a deficit when .

7. In Ukraine, public finance is a sum .

8. The Ministry of Finance (MoF) is .

 

VIII. Answer the following questions:

1. What is finance?

2. What is a financial system?

3. What are savers and borrowers connected by?

4. What part does finance comprise?

5. What is public finance?

6. Name the main functions of public finance.

7. What is a countrys budget?

8. When the budget has a deficit?

9. What does the process of budget preparation include?

10. What is a public budget in Ukraine?

11. What is the central coordinating institution in compiling the budget?

IX. Translate into English:

1. Գ , ᒺ.

2. Գ , , , .

3. .

4. Գ ᒺ.

5. .

6. ϳ .

7. .

8. .

9. , .

 

THE BUDGET

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