Question Tag: Floating Charge

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LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices

Explain the differences between preference and equity shares, public and private companies, fixed and floating charges, and fraudulent trading and preferences.

Question

Explain the differences between the following:

(a) Preference shares and equity shares

(b) Public and private limited liability companies

(c) Fixed charge and floating charge

(d) Fraudulent trading and preferences

Answer

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Tags: Corporate Law, Equity Shares, Fixed Charge, Floating Charge, Fraudulent Trading, Preference shares, Preferences, Private companies, Public Companies
Level: Level 2

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

Question

As the Branch Manager of your High Street Branch in Accen, your Securities Clerk asks you the following questions:
a. We submitted any application to the Director/Credit showing the following details of Account X Ltd

Proposed Limit: GH$500,000,000;
Proposed Security: Fixed Charge over the factory, minimum forced sale value (FSV) GH$1,500,000,000 on a professional valuation.
The Director/Credit’s office has agreed to lend, but have expressed dissatisfaction with the security and have requested us to take a Debenture under.
Explain the following to your Clerk:
i. What is a Debenture?
ii. Why is the Director/Credit’s’ office requesting for a debenture over the company’s fixed and floating assets?
b. I have read some correspondence about the appointment of an “Administrative Receiver” for Z Limited. Can you explain what “Administrative Receiver” means, how the administrative receiver is appointed and what the administrative receiver does?

Answer

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Tags: Administrative Receiver, Appointment, Companies Act, Company Securities, Debenture, Duties, Fixed Charge, Floating Charge, Insolvency, Receivership
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

BL – Nov 2014 – L1 – SB – Q1b – Company Law

Explain two differences between fixed charge and floating charge on company properties.

Question

One of the conditions attached to loans obtained by a registered company is the creation of a charge on the properties of the company.
You are required to explain briefly any TWO differences between fixed charge and floating charge.
(Total 5 Marks)

Answer

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Tags: Company Law, Fixed Charge, Floating Charge, Loan Security
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – Nov 2014 – L1 – SA – Q7 – Company Law

Identifying assets not covered by a floating charge over a company's properties

Question

A floating charge over a company’s properties will cover all of the following EXCEPT:
A. Cash
B. Stock-in-Trade
C. Plant and Machinery
D. Rent
E. Dividends

Answer

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Tags: Company Assets, Floating Charge, Security Interest
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – Nov 2022 – L1 – SB – Q4a – Company Law

Explaining the advantages of a floating charge to a company.

Question

Debenture stock is secured by charge on the company’s assets.

Required:
Explain two advantages of floating charge to the company.

Answer

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Tags: Corporate finance, Debenture, Floating Charge
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – Nov 2022 – L1 – SA – Q5 – Company Law

Identifying the term for an equitable charge on all assets as security.

Question

An equitable charge on all of the assets or property of a company as security for indebtedness of the company is called:

A. Assets charge
B. Property charge
C. Fixed charge
D. Multiple charge
E. Floating charge

Answer

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Tags: Floating Charge, Security
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – May 2015 – L1 – SA – Q8 – Company Law

Identify which of the listed characteristics does not apply to a floating charge.

Question

The following are the major characteristics of a floating charge EXCEPT, it is
A. Not attached to any particular asset or assets of the company
B. Attached to a particular asset or assets of the company
C. Ambulatory and shifting in nature
D. Equitable in nature
E. A form of company security

Answer

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Tags: Company Security, Floating Charge
Level: Level 1

Topic: Company Law
Series: MAY 2015

BCL – May 2019 – L1 – Q6a – Company Law

Explains the concepts of floating charge, naked debentures, and income surplus in company law.

Question

a) Explain the following:
i) Floating charge
ii) Naked Debentures
iii) Income Surplus
(12 marks)

Answer

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Tags: Company Capital, Floating Charge, Income Surplus, Naked Debentures
Level: Level 1

Topic: Contract Law
Series: MAY 2019

BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies

Define a debenture and explain when a receiver/manager is appointed.

Question

b)
i) Define a debenture. (2 marks)

ii) State the time when a debenture holder on a floating charge will deem it necessary to apply to the court for the appointment of a receiver/manager.

(4 marks)

iii) At what time will an annual general meeting of a company limited by shares be dispensed with in any year? (2 marks)

iv) State FOUR persons who qualify to receive notices of general meetings in a company limited by shares. (8 marks)

Answer

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Tags: Debentures, Floating Charge, Receiver Appointment
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAY 2018

BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies

Distinguish between fixed and floating charges and explain circumstances for crystallization.

Question

a) A company may raise a loan capital and/or long-term funds by the issue of a debenture or a series of debentures or of debenture stock in order to finance the business without increasing its share capital. Debentures may be secured by a charge or may be unsecured by any charge.

Required:
i) In THREE (3) ways, distinguish between a fixed charge and a floating charge.
(6 marks)

ii) Under what TWO (2) circumstances can a floating charge crystallize into a fixed charge?
(4 marks)

Answer

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Tags: Company Financing, Fixed Charge, Floating Charge
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2023

LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices

Explain the differences between preference and equity shares, public and private companies, fixed and floating charges, and fraudulent trading and preferences.

Question

Explain the differences between the following:

(a) Preference shares and equity shares

(b) Public and private limited liability companies

(c) Fixed charge and floating charge

(d) Fraudulent trading and preferences

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Equity Shares, Fixed Charge, Floating Charge, Fraudulent Trading, Preference shares, Preferences, Private companies, Public Companies
Level: Level 2

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

Question

Proposed Limit: GH$500,000,000;
Proposed Security: Fixed Charge over the factory, minimum forced sale value (FSV) GH$1,500,000,000 on a professional valuation.
The Director/Credit’s office has agreed to lend, but have expressed dissatisfaction with the security and have requested us to take a Debenture under.
Explain the following to your Clerk:
i. What is a Debenture?
ii. Why is the Director/Credit’s’ office requesting for a debenture over the company’s fixed and floating assets?
b. I have read some correspondence about the appointment of an “Administrative Receiver” for Z Limited. Can you explain what “Administrative Receiver” means, how the administrative receiver is appointed and what the administrative receiver does?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administrative Receiver, Appointment, Companies Act, Company Securities, Debenture, Duties, Fixed Charge, Floating Charge, Insolvency, Receivership
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

BL – Nov 2014 – L1 – SB – Q1b – Company Law

Explain two differences between fixed charge and floating charge on company properties.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Fixed Charge, Floating Charge, Loan Security
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – Nov 2014 – L1 – SA – Q7 – Company Law

Identifying assets not covered by a floating charge over a company's properties

Question

A floating charge over a company’s properties will cover all of the following EXCEPT:
A. Cash
B. Stock-in-Trade
C. Plant and Machinery
D. Rent
E. Dividends

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Assets, Floating Charge, Security Interest
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – Nov 2022 – L1 – SB – Q4a – Company Law

Explaining the advantages of a floating charge to a company.

Question

Debenture stock is secured by charge on the company’s assets.

Required:
Explain two advantages of floating charge to the company.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate finance, Debenture, Floating Charge
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – Nov 2022 – L1 – SA – Q5 – Company Law

Identifying the term for an equitable charge on all assets as security.

Question

An equitable charge on all of the assets or property of a company as security for indebtedness of the company is called:

A. Assets charge
B. Property charge
C. Fixed charge
D. Multiple charge
E. Floating charge

Answer

Find Related Questions by Tags, levels, etc.

Tags: Floating Charge, Security
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – May 2015 – L1 – SA – Q8 – Company Law

Identify which of the listed characteristics does not apply to a floating charge.

Question

Answer

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Tags: Company Security, Floating Charge
Level: Level 1

Topic: Company Law
Series: MAY 2015

BCL – May 2019 – L1 – Q6a – Company Law

Explains the concepts of floating charge, naked debentures, and income surplus in company law.

Question

a) Explain the following:
i) Floating charge
ii) Naked Debentures
iii) Income Surplus
(12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Capital, Floating Charge, Income Surplus, Naked Debentures
Level: Level 1

Topic: Contract Law
Series: MAY 2019

BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies

Define a debenture and explain when a receiver/manager is appointed.

Question

b)
i) Define a debenture. (2 marks)

ii) State the time when a debenture holder on a floating charge will deem it necessary to apply to the court for the appointment of a receiver/manager.

(4 marks)

iii) At what time will an annual general meeting of a company limited by shares be dispensed with in any year? (2 marks)

iv) State FOUR persons who qualify to receive notices of general meetings in a company limited by shares. (8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Debentures, Floating Charge, Receiver Appointment
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAY 2018

BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies

Distinguish between fixed and floating charges and explain circumstances for crystallization.

Question

Required:
i) In THREE (3) ways, distinguish between a fixed charge and a floating charge.
(6 marks)

ii) Under what TWO (2) circumstances can a floating charge crystallize into a fixed charge?
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Financing, Fixed Charge, Floating Charge
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2023

Question Tag: Floating Charge

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LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices

Explain the differences between preference and equity shares, public and private companies, fixed and floating charges, and fraudulent trading and preferences.

You're reporting an error for "LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices"

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

You're reporting an error for "POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers"

BL – Nov 2014 – L1 – SB – Q1b – Company Law

Explain two differences between fixed charge and floating charge on company properties.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q1b – Company Law"

BL – Nov 2014 – L1 – SA – Q7 – Company Law

Identifying assets not covered by a floating charge over a company's properties

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q7 – Company Law"

BL – Nov 2022 – L1 – SB – Q4a – Company Law

Explaining the advantages of a floating charge to a company.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q4a – Company Law"

BL – Nov 2022 – L1 – SA – Q5 – Company Law

Identifying the term for an equitable charge on all assets as security.

You're reporting an error for "BL – Nov 2022 – L1 – SA – Q5 – Company Law"

BL – May 2015 – L1 – SA – Q8 – Company Law

Identify which of the listed characteristics does not apply to a floating charge.

You're reporting an error for "BL – May 2015 – L1 – SA – Q8 – Company Law"

BCL – May 2019 – L1 – Q6a – Company Law

Explains the concepts of floating charge, naked debentures, and income surplus in company law.

You're reporting an error for "BCL – May 2019 – L1 – Q6a – Company Law"

BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies

Define a debenture and explain when a receiver/manager is appointed.

You're reporting an error for "BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies"

BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies

Distinguish between fixed and floating charges and explain circumstances for crystallization.

You're reporting an error for "BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies"

LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices

Explain the differences between preference and equity shares, public and private companies, fixed and floating charges, and fraudulent trading and preferences.

You're reporting an error for "LRB – JUL 2020 – L2 – Q3 – Differences in Shares, Companies, Charges, and Trading Practices"

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

You're reporting an error for "POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers"

BL – Nov 2014 – L1 – SB – Q1b – Company Law

Explain two differences between fixed charge and floating charge on company properties.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q1b – Company Law"

BL – Nov 2014 – L1 – SA – Q7 – Company Law

Identifying assets not covered by a floating charge over a company's properties

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q7 – Company Law"

BL – Nov 2022 – L1 – SB – Q4a – Company Law

Explaining the advantages of a floating charge to a company.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q4a – Company Law"

BL – Nov 2022 – L1 – SA – Q5 – Company Law

Identifying the term for an equitable charge on all assets as security.

You're reporting an error for "BL – Nov 2022 – L1 – SA – Q5 – Company Law"

BL – May 2015 – L1 – SA – Q8 – Company Law

Identify which of the listed characteristics does not apply to a floating charge.

You're reporting an error for "BL – May 2015 – L1 – SA – Q8 – Company Law"

BCL – May 2019 – L1 – Q6a – Company Law

Explains the concepts of floating charge, naked debentures, and income surplus in company law.

You're reporting an error for "BCL – May 2019 – L1 – Q6a – Company Law"

BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies

Define a debenture and explain when a receiver/manager is appointed.

You're reporting an error for "BCL – May 2018 – L1 – Q6b – Types of Capital and the Financing of Companies"

BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies

Distinguish between fixed and floating charges and explain circumstances for crystallization.

You're reporting an error for "BCL – Mar 2023 – L1 – Q5a – Types of Capital and the Financing of Companies"

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