Act 992 – Knowsia

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 – 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

Find Related Questions by Tags, levels, etc.

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

Topic: Types of capital and the financing of companies

Tag (SQ): Act 992

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BCL – L1 – Q76 – Company meetings and resolutions

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

BCL – L1 – Q71 – Prohibited Share Transactions

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

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Tag (SQ): Act 992

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BCL – L1 – Q76 – Company meetings and resolutions

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

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BCL – L1 – Q71 – Prohibited Share Transactions

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

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