PROFESSIONAL PROGRAM – Page 40

BCL – L1 – Q76 – Company meetings and resolutions

Identify resolutions affecting shares that require court confirmation under Act 992.

Question

(a). Indicate resolutions affecting shares that are subject to confirmation by the court.

(b). The class A equity shareholders passed an ordinary resolution abolishing special dividend payment and voting rights of class B equity shareholders stipulated in the constitution. In exchange for these rights, the class A shareholders agreed to pay each class B shareholder GH $20,000. The class B shareholders are opposed to the new deal.

Propose a resolution.

(c). Explain the nature of priority of charges.

Answer

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Tags: Act 992, Charges, Company Law, Corporate finance, Priority of Charges, Secured Lending
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q75 – Types of Capital

Define and explain equity shares, debentures, floating charge, and liquidity of shares.

Question

(a). Define and explain briefly the following terms:

(i) Equity shares

(ii) Debentures

(iii) Floating charge

(iv) Liquidity of shares.

(b). The Managing Director of your organization has just received a share certificate from an agent of Apex Bank and considers the document as incomplete. As the Chief Accountant of your organization, indicate the contents and the effect of a share certificate.

Answer

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Tags: Company Law, Share Certificate, Shareholder Rights
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q74 – Types of Capital

Advise Kofi on his right to unpaid 2017 dividends.

Question

Yaw is a shareholder in Tetteh Limited for the past 20 years and has been receiving his dividend as and when declared and paid except for 2017, which other shareholders have been paid. A secretary at the company’s head office informed Yaw on the phone that his annual dividend for 2017 may not be forthcoming due to non-payment for shares.

Required:

(a) Advise Yaw.

(b). State with examples the particulars for registration of charges.

(c). Provide six merits of equity over debt as capital.

Answer

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Tags: List six merits of equity over debt as capital.
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q73 – Types of Capital

Identify components of stated capital for a company with shares.

Question

(a). What are the components of stated capital of a company with shares?

(b). What treatment does the Act provide for unclaimed dividends?

(c). State five items that distinguish preference shares from ordinary shares.

(d). Tawiah Limited has been in business for over twenty years now. It was a family company before a private placement with some strategic investors five years ago with the goal of expanding production and venturing into the export market. The result has been less than impressive, and investors are demanding action. In response, the Managing Director (MD) intends to pay dividends for the first time since the private placement using a fund meant for debt payments due next month. One of the investors proposed an amount for the dividend per share, and the MD agreed just to appease the investors.

(i) Can he go ahead with the dividend payment?

(ii) What are the implications, if any?

Answer

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Tags: Company Law, Creditors, Dividend Payment, Legal Implications
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q72 – Types of Capital

Distinguish between loan capital and share capital.

Question

(a). Distinguish between loan capital and share capital.

(b). Describe the different classes of shares.

(c). What are the procedures for altering class rights?

(d). Explain the terms debenture, bonds, and floating charges.

Answer

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Tags: Bonds, Company Financing, Debenture, Floating Charges
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q71 – Prohibited Share Transactions

State the prohibited transactions in shares under Section 58 of Act 992.

Question

(a). State the various prohibited transactions in shares as provided by section 58 of Act 992.

(b). Under what circumstances will the provision of financial assistance by a company for the purchase of its shares be permitted?

Answer

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Tags: Act 992, Company constitution, Financial Assistance, Share Purchase
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q70 – Preferential Shareholders’ Dividend Rights

Are preferential shareholders of Apex Company Limited entitled to further dividends after their declared dividends?

Question

A group of young members of Apex Company Limited petitioned the Board of Directors of the Company over dividends payments at the close of the company’s annual general meeting. They claimed that they were preferential shareholders and that after dividends were declared for them, they had the privilege for fair participation in the distribution of the remaining shares.

Required:

(a) From the above scenario, are the preferential shareholders entitled to any further dividend?

(b). State TWO (2) principles relating to minimum capital for a company limited by shares pursuant to provisions of the law.

Answer

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Tags: Act 179, Company Limited by Shares, Minimum Capital, Registrar
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q69 – Dividend Distribution and Minority Protection

Explain how company law regulates dividend distribution and protects minority shareholders.

Question

How does company law regulate the distribution of dividends and the protection of minority shareholders?

Answer

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Tags: Company Law, Dividends, Financial Solvency, Minority Shareholders
Level: Level 1

Topic: Types of capital and the financing of companies

Title: BCL – L1 – Q68 – Capital Raising Mechanisms

Discuss legal mechanisms for companies to raise capital and investor rights.

Question

Discuss the legal mechanisms through which companies can raise capital, and the associated rights of investors.

Answer

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Tags: Bonds, Capital raising, Investor Rights, Securities Regulations, Shares
Level: Level 1

Topic: Types of capital and the financing of companies

BCL – L1 – Q67 – Company directors and other officers

State limitations on directors' powers and ways a director’s appointment can be terminated under Companies Act 2019.

Question

In accordance with the Companies Act, 2019 (Act 992), the directors shall not, without the approval of an ordinary resolution of the company, exceed the powers conferred on them.

Required:

(a) State THREE (3) limitations on the powers of directors.

(b) Explain THREE (3) ways in which a director’s appointment can be terminated.

Answer

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Tags: Companies Act, Corporate Governance, Directors powers, Limitations, Termination
Level: Level 1

Topic: Company directors and other officers

Program (SQ): PROFESSIONAL PROGRAM

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BCL – L1 – Q76 – Company meetings and resolutions

Identify resolutions affecting shares that require court confirmation under Act 992.

BCL – L1 – Q75 – Types of Capital

Define and explain equity shares, debentures, floating charge, and liquidity of shares.

BCL – L1 – Q74 – Types of Capital

Advise Kofi on his right to unpaid 2017 dividends.

BCL – L1 – Q73 – Types of Capital

Identify components of stated capital for a company with shares.

BCL – L1 – Q72 – Types of Capital

Distinguish between loan capital and share capital.

BCL – L1 – Q71 – Prohibited Share Transactions

State the prohibited transactions in shares under Section 58 of Act 992.

BCL – L1 – Q70 – Preferential Shareholders’ Dividend Rights

Are preferential shareholders of Apex Company Limited entitled to further dividends after their declared dividends?

BCL – L1 – Q69 – Dividend Distribution and Minority Protection

Explain how company law regulates dividend distribution and protects minority shareholders.

Title: BCL – L1 – Q68 – Capital Raising Mechanisms

Discuss legal mechanisms for companies to raise capital and investor rights.

BCL – L1 – Q67 – Company directors and other officers

State limitations on directors' powers and ways a director’s appointment can be terminated under Companies Act 2019.

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Program (SQ): PROFESSIONAL PROGRAM

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Identify resolutions affecting shares that require court confirmation under Act 992.

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Define and explain equity shares, debentures, floating charge, and liquidity of shares.

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Advise Kofi on his right to unpaid 2017 dividends.

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Identify components of stated capital for a company with shares.

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Distinguish between loan capital and share capital.

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State the prohibited transactions in shares under Section 58 of Act 992.

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Are preferential shareholders of Apex Company Limited entitled to further dividends after their declared dividends?

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Explain how company law regulates dividend distribution and protects minority shareholders.

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Discuss legal mechanisms for companies to raise capital and investor rights.

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State limitations on directors' powers and ways a director’s appointment can be terminated under Companies Act 2019.

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