Acts and Sections

Question 1

s.214 Insolvency Act (1986)

Answer 1

Wrongful Trading

Question 2

s.21 Companies Act (2006)

Answer 2

Amendment of articles (by special resolution)

Question 3

s.33(1) Companies Act (2006)

Answer 3

Effect of companies constitution (statutory contract/ model articles)

Question 4

s.51 Companies Act (2006)

Answer 4

Pre- incorporation contracts, deeds and obligations (contract binding between third party and promoter)

Question 5

s.168 Companies Act (2006)

Answer 5

Resolution to remove director (ordinary resolution)

Question 6

s.171 Companies Act (2006)

Answer 6

Duty to act within powers

A director of a company must—

(a) act in accordance with the company’s constitution, and

(b) only exercise powers for the purposes for which they are conferred.

Question 7

s.172 Companies Act (2006)

Answer 7

Duty to promote the success of the company

Question 8

s.173 Companies Act (2006)

Answer 8

Duty to exercise independent judgment

Question 9

s.174 Companies Act (2006)

Answer 9

Duty to exercise reasonable care, skill and diligence

Question 10

s.175 Companies Act (2006)

Answer 10

Duty to avoid conflicts of interest

Question 11

s.176 Companies Act (2006)

Answer 11

Duty not to accept benefits from third parties

Question 12

s.177 Companies Act (2006)

Answer 12

Duty to declare interest in proposed transaction or arrangement

Question 13

s.182 Companies Act (2006)

Answer 13

Declaration of interest in existing transaction or arrangement

Question 14

s.239 Companies Act (2006)

Answer 14

Ratification

Question 15

s.250 Companies Act (2006)

Answer 15

Director

Question 16

s.251 Companies Act (2006)

Answer 16

Shadow director

Question 17

s.260 Companies Act (2006)

Answer 17

Derivative claim

Question 18

s.282 Companies Act (2006)

Answer 18

Ordinary resolution

Question 19

s.283 Companies Act (2006)

Answer 19

Special resolution

Question 20

s.550 Companies Act (2006)

Answer 20

Power of directors to allot shares

Question 21

s.561 Companies Act (2006)

Answer 21

Pre-emption rights

Question 22

s.763 Companies Act (2006)

Answer 22

The authorised minimum

(1) “The authorised minimum”, in relation to the nominal value of a public company’s allotted share capital is—

(a)£50,000, or

(b)the prescribed euro equivalent.

Question 23

s.771 Companies Act (2006)

Answer 23

Procedure on transfer being lodged

(1)When a transfer of shares in or debentures of a company has been lodged with the company, the company must either—

(a)register the transfer, or

(b)give the transferee notice of refusal to register the transfer, together with its reasons for the refusal,

Question 24

s.830 Companies Act (2006)

Answer 24

Distributions to be made only out of profits available for the purpose

Question 25

s.847 Companies Act (2006)

Answer 25

Consequences of unlawful distribution

Question 26

s.994 Companies Act (2006)

Answer 26

Petition by company member

Question 27

S.53 (Companies Act 2006)

Answer 27

Prohibited names

Question 28

S.197 (Companies Act 2006)

Answer 28

Loans to directors: requirement of members approval

Question 29

s.302 (Companies Act 2006)

Answer 29

Directors power to call a general meeting

Question 30

CA 2006 s.399

Answer 30

Group accounts

Question 31

CA 2006 s.767

Answer 31

Doing business without a trading certificate

Question 32

CA 2006 s.993

Answer 32

Fraudulent trading

Question 33

IA 1986 ss.213 and 246ZA

Answer 33

Fraudulent trading

Question 34

IA 1986 ss.214 and 246ZB

Answer 34

Wrongful trading

Question 35

IA 1986 s.238

Answer 35

Transaction at an undervalue

Question 36

IA 1986 s.239

Answer 36

Preferences

Question 37

CA 2006 - s.542 (2)

Answer 37

Failure to fix a nominal value renders the allotment void

Question 38

CA 2006 - s.542

Answer 38

Nominal value of shares

Question 39

CA 2006 - s.542(1)

Answer 39

Shares in a limited company having a share capital must each have a fixed nominal value

Question 40

CA 2006 s.630

Answer 40

Variation of class rights: companies having a share capital

Question 41

CA 2006 s.793

Answer 41

Notice by a company requiring info about interests in its shares

Question 42

CA s.190

Answer 42

Substantial property transactions