Company finance Flashcards
(4 cards)
1
Q
What happens if you breach a negative pledge?
A
It will not render the charge void but it will be subordinate to the existing pledge.
2
Q
What is required to disapply statutory pre-emption rights?
A
A special resolution
3
Q
What authority is needed to allot more than one class of share?
A
An ordinary resolution
4
Q
What must be filed at the Registrar of Companies for the buy-back of shares?
A
Forms for return of purchase of own shares and notice of cancellation of shares, statement of solvency, auditor’s report and the special resolution.
