FLK1 - 100 - Mock A - Part 1 Flashcards
(18 cards)
Who can demand a poll vote under the MA?
A poll vote can be demanded by any 2 or more members entitled to vote on the resolution.
When is a private company able to borrow money under the MA?
A private company is able to borrow money from the moment its certificate of incorporation is issued.
Who must the company directors notify when they make an out-of-court appointment of an administrator?
The court, the QFC Holder, and any parties entitled to appoint an administrative receiver.
How many directors may a person classified as a PSC appoint or remove?
The majority of the board of directors.
When is shareholder approval required for a director’s service contract?
If the contract guarantees employment for a term of over 2 years.
Under the principles of judicial review, how is sufficient interest interpreted?
Broadly to include pressure groups - even if the group does not have a direct personal or financial stake in the matter.
Can claimants apply the Francovich principle post brexit?
No, as it was repealed in Dec 2020, and breaches occurring before that date had to be initiated before 31 Dec 2022.
Francovich principle = allows individuals to claim damages for a government’s failure to implement an EU directive
Explain the differences between the concepts of overrule, distinguish, and reverse in case law.
- Overruling involves a court invalidating a precedent established in a previous case.
- Distinguishing occurs when a court identifies factual or legal differences that make a precedent inapplicable to the current case.
- Reversing happens when a higher court overturns the decision of a lower court on appeal in the same case.
How does Parliament regulates its procedures and the behaviour of its members?
Parliament determines its own procedures and regulates the behaviour of its members through its internal rules and disciplinary mechanisms, without interference from the courts.
Can a firm pass on CDD costs to client under ML regulations?
Yes, but this must be communicated transparently in advance and referenced in the T&Cs.
Which employees must the firm screen re anti-money laundering?
The obligation to screen employees is limited to those whose work is relevant to compliance with the ML or those who contribute to the identification, prevention, or detection of money laundering or terrorist financing.
Finish the statement. A party who obtains an order for the examination of a witness must…
“pay the witness a sum to cover their travelling expenses to and from the examination and compensation for their loss of time”
If a party fails to plead its entitlement to contractual interest during proceedings is it entitled to statutory interest?
No, the courts prevent interest from being awarded under statutory provisions when it is already “running” for some other reason, such as a contractual rate of interest.
Can a party be added to proceedings if the limitation period has expired?
Yes, if the addition of a party is necessary for the claim to be properly carried on.
Can arbitration awards be repealed?
Arbitration awards are enforceable as if they were judgments of the court, and appeals are only allowed in limited circumstances, including serious irregularity or on a point of law with the court’s permission.
What tracks require a pre-trial checklist?
The fast track and multi-track both require (N170).
Are the costs of raising a healthy child recoverable?
Child was born after a botched vasectomy
No. A healthcare provider may be liable for damages related to the pain, suffering and loss of autonomy caused by an unwanted pregnancy.
Explain the connection test (employer’s vicarious liability)
An employer may be liable for acts that are intentional, criminal, or expressly prohibited if they are sufficiently related to the employee’s authorised functions.
