Tag (SQ): Company Law
Search
500
+ past questions and counting.
- 20 Marks
BCL – L1 – Q99 – Legal implications relating to companies in difficulty or in crisis
Circumstances under which a court may order a company's winding up.
Question
(a). Discuss the circumstances under which a court will order a winding up of a company?
(b). Under what circumstances is a company deemed unable to pay its debts?
(c). Can the Attorney-General cause a company to wind up at a press conference?
(d). Briefly explain: mergers, insolvency, and amalgamation.
Find Related Questions by Tags, levels, etc.
Report an error
- 10 Marks
BCL – L1 – Q88 – Company directors and other officers
List three civil liabilities for a director breaching fiduciary duties and conflict of interest rules.
Question
As part of the duty, a director of a company stands in a fiduciary relationship towards the company and shall observe the utmost good faith towards the company in a transaction with it or on its behalf. He or She shall always act in what the director believes to be the best interests of the company as a whole to preserve its assets, further its business, and promote the purposes for which it was formed, and in a manner that a faithful, diligent, careful and skilful that ordinarily a Director would act in the circumstances. Besides, a director is not to use for his own advantage the money or property of the company or a confidential information or special knowledge obtained in his capacity.
Required:
List THREE (3) civil liabilities that are to be brought against a director who commits a breach of duty and violates the rules regarding conflict of interest.
Find Related Questions by Tags, levels, etc.
Report an error
- 20 Marks
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.
Find Related Questions by Tags, levels, etc.
Report an error
- 20 Marks
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.
Find Related Questions by Tags, levels, etc.
Report an error
