200 pages Part 2 Flashcards
(500 cards)
1
Q
What property protection does the liquidator ensure under Sec. 324(1)?
A
Protection of all company properties.
2
Q
What final orders can the Minister vary under Sec. 292(9)?
A
Variation of the rehabilitation plan.
3
Q
What guarantee contribution applies under Sec. 294(1)(e)?
A
Contribution limited to the guarantee.
4
Q
What fraudulent management triggers Sec. 301(g)(iv)?
A
Management committing fraud or malfeasance.
5
Q
What cost security must a creditor provide under Sec. 304(d)?
A
Security for costs as deemed reasonable.
6
Q
What panel does the Court use under Sec. 315(1)?
A
A Commission-maintained panel.
7
Q
What formation manner is reported under Sec. 321(2)?
A
The manner of company formation.
8
Q
What completion time can the Court set under Sec. 322(1)?
A
A time limit for dissolution.
9
Q
What contributory list does the Court settle under Sec. 323(1)?
A
A list distinguishing contributory types.
10
Q
What effects must the liquidator control under Sec. 324(1)?
A
All effects to which the company is entitled.
11
Q
What ancillary supervision does the Minister provide under Sec. 292(10)?
A
Supervision of ancillary matters.
12
Q
What share liability applies under Sec. 294(2)?
A
Liability for unpaid shares in a guarantee company.
13
Q
What Ponzi scheme triggers Sec. 301 Explanation I(b)?
A
Indulging in Ponzi schemes locally or internationally.
14
Q
What suits pending are detailed under Sec. 304(e)?
A
Suits or proceedings against the company.
15
Q
What panel recommendation comes from under Sec. 315(1)?
A
The State Bank of Pakistan.
16
Q
What debt realization is reported under Sec. 321(1)(e)?
A
Amounts likely to be realized from debts.
17
Q
What viability assessment does the liquidator make under Sec. 321(3)?
A
Assessment of business viability.
18
Q
What asset application does the Court direct under Sec. 323(1)?
A
Application of assets to discharge liabilities.
19
Q
What claim control does the liquidator take under Sec. 324(1)?
A
Control of actionable claims.
20
Q
What enforcement does the Minister ensure under Sec. 292(6)?
A
Enforcement of the rehabilitation plan.
21
Q
What past member condition applies under Sec. 294(1)(c)?
A
Liability only if present members cannot pay.
22
Q
What just and equitable ground triggers Sec. 301(i)?
A
Court opinion that winding up is just.
23
Q
What representation must be afforded under Sec. 304(c)?
A
Representation before a Commission petition.
24
Q
What appointment limit applies under Sec. 315(2)?
A
No more than 3 company appointments.
25
What officer fraud is detailed under Sec. 321(2)?
Fraud by officers since company formation.
26
What dissolution time can the Court revise under Sec. 322(1)?
Time limit for company dissolution.
27
What liability discharge does the Court order under Sec. 323(1)?
Discharge of company debts.
28
What property custody does the liquidator assume under Sec. 324(1)?
Custody of all company property.
29
What direction authority does the Minister have under Sec. 292(10)?
Authority to issue necessary directions.
30
What contribution adjustment applies under Sec. 294(1)?
Adjustment of rights among contributories.
31
What licence revocation condition triggers Sec. 301(k)?
Revocation of the sole licensed activity.
32
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
33
What experience standard applies under Sec. 315(3)?
10 years in accounting, finance, or law.
34
What promotion details are reported under Sec. 321(2)?
Details of company promotion.
35
What completion deadline does the Court set under Sec. 322(1)?
A deadline for winding up completion.
36
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
37
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
38
What implementation directions can the Minister issue under Sec. 292(10)?
Directions for plan implementation.
39
What debt competition rule applies under Sec. 294(1)(g)?
Member sums not debts in creditor competition.
40
What membership minimum triggers Sec. 301(e)?
Below 3 for public, 2 for private.
41
What hearing must the registrar provide under Sec. 304(b)?
A hearing before sanctioning a petition.
42
What panel maintenance applies under Sec. 315(1)?
Maintenance by the Commission.
43
What fraud report does the liquidator submit under Sec. 321(2)?
Report on fraud in formation or management.
44
What viability steps does the liquidator propose under Sec. 321(3)?
Steps to maximize asset value.
45
What asset collection does the Court order under Sec. 323(1)?
Collection of all company assets.
46
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
47
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
48
What past member exemption applies under Sec. 294(1)(b)?
No liability for debts after ceasing membership.
49
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
50
What security must a contingent creditor give under Sec. 304(d)?
Security for costs as set by the Court.
51
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
52
What secret reserves are detailed under Sec. 320(1)(h)?
Information relating to secret reserves.
53
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
54
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
55
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
56
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
57
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
58
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
59
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
60
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
61
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
62
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
63
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
64
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
65
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
66
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
67
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
68
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
69
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
70
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
71
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
72
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
73
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
74
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
75
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
76
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
77
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
78
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
79
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
80
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
81
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
82
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
83
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
84
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
85
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
86
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
87
What limit applies under Sec. 315(2)?
Three company appointments at a time.
88
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
89
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
90
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
91
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
92
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
93
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
94
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
95
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
96
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
97
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
98
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
99
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
100
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
101
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
102
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
103
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
104
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
105
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
106
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
107
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
108
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
109
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
110
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
111
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
112
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
113
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
114
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
115
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
116
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
117
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
118
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
119
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
120
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
121
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
122
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
123
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
124
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
125
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
126
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
127
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
128
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
129
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
130
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
131
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
132
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
133
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
134
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
135
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
136
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
137
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
138
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
139
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
140
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
141
What limit applies under Sec. 315(2)?
Three company appointments at a time.
142
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
143
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
144
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
145
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
146
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
147
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
148
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
149
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
150
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
151
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
152
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
153
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
154
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
155
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
156
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
157
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
158
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
159
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
160
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
161
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
162
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
163
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
164
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
165
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
166
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
167
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
168
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
169
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
170
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
171
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
172
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
173
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
174
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
175
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
176
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
177
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
178
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
179
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
180
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
181
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
182
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
183
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
184
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
185
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
186
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
187
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
188
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
189
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
190
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
191
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
192
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
193
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
194
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
195
What limit applies under Sec. 315(2)?
Three company appointments at a time.
196
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
197
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
198
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
199
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
200
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
201
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
202
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
203
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
204
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
205
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
206
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
207
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
208
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
209
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
210
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
211
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
212
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
213
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
214
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
215
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
216
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
217
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
218
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
219
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
220
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
221
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
222
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
223
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
224
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
225
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
226
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
227
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
228
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
229
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
230
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
231
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
232
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
233
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
234
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
235
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
236
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
237
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
238
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
239
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
240
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
241
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
242
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
243
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
244
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
245
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
246
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
247
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
248
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
249
What limit applies under Sec. 315(2)?
Three company appointments at a time.
250
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
251
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
252
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
253
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
254
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
255
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
256
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
257
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
258
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
259
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
260
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
261
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
262
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
263
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
264
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
265
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
266
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
267
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
268
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
269
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
270
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
271
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
272
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
273
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
274
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
275
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
276
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
277
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
278
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
279
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
280
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
281
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
282
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
283
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
284
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
285
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
286
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
287
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
288
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
289
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
290
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
291
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
292
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
293
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
294
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
295
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
296
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
297
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
298
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
299
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
300
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
301
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
302
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
303
What limit applies under Sec. 315(2)?
Three company appointments at a time.
304
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
305
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
306
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
307
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
308
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
309
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
310
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
311
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
312
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
313
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
314
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
315
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
316
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
317
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
318
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
319
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
320
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
321
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
322
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
323
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
324
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
325
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
326
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
327
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
328
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
329
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
330
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
331
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
332
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
333
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
334
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
335
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
336
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
337
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
338
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
339
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
340
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
341
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
342
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
343
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
344
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
345
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
346
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
347
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
348
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
349
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
350
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
351
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
352
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
353
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
354
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
355
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
356
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
357
What limit applies under Sec. 315(2)?
Three company appointments at a time.
358
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
359
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
360
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
361
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
362
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
363
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
364
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
365
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
366
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
367
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
368
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
369
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
370
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
371
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
372
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
373
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
374
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
375
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
376
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
377
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
378
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
379
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
380
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
381
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
382
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
383
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
384
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
385
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
386
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
387
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
388
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
389
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
390
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
391
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
392
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
393
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
394
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
395
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
396
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
397
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
398
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
399
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
400
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
401
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
402
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
403
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
404
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
405
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
406
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
407
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
408
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
409
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
410
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
411
What limit applies under Sec. 315(2)?
Three company appointments at a time.
412
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
413
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
414
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
415
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
416
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
417
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
418
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
419
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
420
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
421
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
422
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
423
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
424
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
425
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
426
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
427
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
428
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
429
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
430
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
431
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
432
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
433
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
434
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
435
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
436
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
437
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
438
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
439
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
440
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
441
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
442
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
443
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
444
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
445
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
446
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
447
What appointment restriction applies under Sec. 315(2)?
No more than 3 companies at once.
448
What officer misconduct is reported under Sec. 321(2)?
Misconduct by officers since formation.
449
What dissolution deadline does the Court set under Sec. 322(1)?
A deadline for company dissolution.
450
What liability discharge does the Court oversee under Sec. 323(1)?
Discharge of company liabilities.
451
What property protection does the liquidator ensure under Sec. 324(1)?
Protection of all company properties.
452
What supervision authority does the Minister have under Sec. 292(10)?
Authority to supervise plan execution.
453
What past director condition applies under Sec. 295(b)?
No liability for debts after ceasing office.
454
What moral hazard triggers Sec. 301 Explanation I(c)?
Activities deemed a moral hazard by the Commission.
455
What business operations must be provided under Sec. 304(e)?
Details of the company’s operations.
456
What professional standard applies under Sec. 315(3)?
10 years of professional experience.
457
What promotion misconduct is reported under Sec. 321(2)?
Misconduct in company promotion.
458
What completion revision does the Court make under Sec. 322(1)?
Revision of the winding up time limit.
459
What asset application does the Court order under Sec. 323(1)?
Application of assets to discharge debts.
460
What claim control does the liquidator assume under Sec. 324(1)?
Control of all actionable claims.
461
What implementation supervision does the Minister provide under Sec. 292(10)?
Supervision of the rehabilitation plan.
462
What debt limit applies under Sec. 294(1)(d)?
Limited to unpaid share amounts.
463
What just cause triggers Sec. 301(i)?
Just and equitable grounds for winding up.
464
What representation must the company be given under Sec. 304(c)?
Representation before a petition is authorized.
465
What limit applies under Sec. 315(2)?
Three company appointments at a time.
466
What formation details are reported under Sec. 321(2)?
Details of how the company was formed.
467
What viability report does the liquidator submit under Sec. 321(3)?
Report on the viability of the business.
468
What collection does the Court oversee under Sec. 323(1)?
Collection of company assets.
469
What effects protection does the liquidator ensure under Sec. 324(1)?
Protection of company effects.
470
What direction authority does the Minister have under Sec. 292(9)?
Authority to issue expedient directions.
471
What contribution qualifications apply under Sec. 294(1)?
Subject to time and debt timing qualifications.
472
What revocation triggers Sec. 301(k)?
Revocation of the sole licensed activity.
473
What fraud evidence triggers Sec. 304(c)?
Evidence of fraud from an investigation.
474
What experience qualifies under Sec. 315(3)?
10 years in accounting, finance, or law.
475
What promotion fraud is reported under Sec. 321(2)?
Fraud in company promotion.
476
What completion time can the Court set under Sec. 322(1)?
A time limit for winding up completion.
477
What contributory settlement does the Court perform under Sec. 323(1)?
Settlement of the contributory list.
478
What property control does the liquidator take under Sec. 324(1)?
Control of all company properties.
479
What supervision does the Minister oversee under Sec. 292(10)?
Supervision of plan execution.
480
What past member exemption applies under Sec. 294(1)(a)?
No liability if ceased 1 year before winding up.
481
What oppressive conduct triggers Sec. 301(g)(iii)?
Conduct oppressive to minority members.
482
What security must a contingent creditor provide under Sec. 304(d)?
Security for costs as set by the Court.
483
What vacancy process applies under Sec. 315(11)?
Court fills vacancy from the panel.
484
What personal assets can be required under Sec. 320(1)(h)?
Personal assets of directors.
485
What dissolution limit does the Court fix under Sec. 322(1)?
A time limit for company dissolution.
486
What liability application does the Court direct under Sec. 323(1)?
Application of assets to liabilities.
487
What claim custody does the liquidator assume under Sec. 324(1)?
Custody of actionable claims.
488
What ancillary authority does the Minister have under Sec. 292(9)?
Authority over ancillary matters.
489
What guarantee limit applies under Sec. 294(1)(e)?
Contribution limited to the guarantee amount.
490
What fraudulent activity triggers Sec. 301(g)(i)?
Carrying on unlawful or fraudulent activities.
491
What prima facie case must a creditor establish under Sec. 304(d)?
A case for winding up.
492
What panel does the Court appoint from under Sec. 315(1)?
A panel maintained by the Commission.
493
What formation fraud is reported under Sec. 321(2)?
Fraud in company formation.
494
What completion time does the Court fix under Sec. 322(1)?
A time for winding up completion.
495
What contributory list does the Court settle under Sec. 323(1)?
A list of contributories.
496
What effects must the liquidator protect under Sec. 324(1)?
All effects of the company.
497
What direction power does the Minister have under Sec. 292(10)?
Power to issue implementation directions.
498
What adjustment does the Court make under Sec. 294(1)?
Adjustment of contributories’ rights.
499
What licence condition triggers Sec. 301(l)?
Failure to comply with Sec. 43 provisions.
500
What investigation triggers Sec. 304(c)?
Investigation showing fraudulent purpose.
