In 2005, the Base Realignment and Closure. Commission (BRAC) mandated consolidation of these. 2 institutions into a new Walter Reed National Military. Medical Center that would be constructed onthe grounds. of the National Naval Medical Center in Bethesda, Maryland.' This new medical facility is intended to pro-.
proprietary companynoun [ C ] uk â us â. âº a company that owns enough shares of another company to control it: Mutuals delivered better returns than proprietary companies. âº LAW in Australia, New Zealand, and South Africa, a type of limited company (= one whose owners only have to pay part of the money they owe if it fails).
A company is a separate legal entity from its shareholders and owns property in its own right. This means that the property of a company is its own and is not held on trust for its shareholders.Hence, when a listed company sells a subsidiary, the sale proceeds it receives form part of the listed companyâs assets.his means that the property of a company is its own and is not held on trust for its shareholders. Hence, when a listed company sells a subsidiary, the sale proceeds it receives form part of the listed companyâs assets.