General 17.05.2025

Question 1

Which court are fast track claims be heard at?

Answer 1

County Court

Question 2

What court are multi track cases heard at ?

Answer 2

High Court

Question 3

Are judges involved in Arbitration cases? Yes or No

Answer 3

No

Question 4

Marc and Lilly are entitled to appoint a new partner, without obtaining each other’s consent. True or False

Answer 4

False

Question 5

When fregistering an LLP do you need to include the profit split in the incorporation document? Yes or No

Answer 5

No

Question 6

Who can order a registered company to change its name the registrar of companies or the secretary of state?

Answer 6

The secretary of state

Question 7

When shares are transferred does a new share certificate need to be prepared ? Yes or No

Answer 7

No

Question 8

Substantial property transactions require approval but only if over a certain value what are the thresholds?

Answer 8

£5,000 and 10% of the companies net asset value

Question 9

How much does the fund that is released by a company in compulsory liquidation have to be to enable ring fencing to be applicable ?

Answer 9

£10,000

Question 10

What is the order of priority for repayment after liquidation ?

Answer 10

Costs of liquidation, preferential debts, secondary preferential creditors, floating charges, unsecured ordinary creditors, deferred debts and then members

Question 11

Does a business have to appoint a MLRO? Yes or No

Answer 11

Yes