Structure Flashcards
(15 cards)
Insurance Policies
Basic principle
Salomon v Salomon & Co 1897
Macaura v Northern Assurancce Company 1925
1969 Employers Libability (Compulsary Insurance) Act
If no insurance
Lee v Lee’s Air Farming 1961
Adams v Cape Industries 1990
Campbell v Gordon 2016
Brumder v Motornet 2013
Changing Articles of Association
S21 CA 2006
Allen v Goldreefs of Africa Ltd 1900
Two shareholders
Special resolution - Companies Act conflict
Bushell v Faith clause
S994
Articles of Association
General
S33 CA 2006
Hickman v Kent and Romney Marsh Sheepbreeders’ Association 1915
Pender v Lushington 1877
Persons clause
S21 CA 2006
Allen v Goldreefs of Africa Ltd 1900
Rayfiled v Hands 1958
Eley v The Positive Government Security Life Assurance Company Ltd 1876
Contract signed before incorporation
On behalf
Agent
Promoter
Kelner v Baxter 1966
S55 CA 2006
On first look
Phonogram v Lane 1981
Pre-incorporation contracts company not liable
Person not liable
Company still exists
Distribution of Assets
Insolvency Act 1986
Size
Retention of title clause
Romalpa Clause - Aluminium Industrie Vaassen BV v Romalpa Aluminum Ltd 1976
Hendy Lennox (Industrial Engines) Ltd v Grahame Puttick Ltd 1984
IA 1986 S238 Transactions at an Undervalue
Random person, Re Kiss Cards Ltd: Smith and Other v Lawson 2016
Order of Repayment
Fixed debenture
Floating charge
Crystalised debt
Companies House
S859F
Case study
control/obligation test for employment
s72A IA 1986
Statuatiry Instrument 2003/2097 article 3
s176A(4), s176A(3)
Company releasing new shares
S994 Companies Act
Re Noble Ltd 1983, Re London School of Electronics Ltd
Re Cumana Ltd 1986
Director work
Board of directors
Appointed by shareholders
S250 CA 2006
Whitehouse v Carlton Property Ltd 1987
Hutton v West Cork Railway 1883, Guinness PLC v Saunders 1990
Provision for payment
Arrangement for payment
No right of payment - Hutton v West Cork Railway 1883
Challenge appointment as director
Board of directors
Appointed by shareholders
Individual shareholders
Only 2/3 directors
Insider trading
Definition
Laws
CJA 1993 Part V
S57 CJA 1993
CJA 1993 Part V Schedule 2
Prosecution needs to prove
S52 CJA 1993
Penalties
Financial Servies and Markets Act 2000 Section 118 - Financial Services v Massey 2011
Intent
Encourage (CJA 1993 s52(2)(a))
Reasonable cause
Defences
CJA 1993 S53 Schedule A
Market makers
Market abuse
Case
Conflicts of interest
CA 2006 s175, ss1, ss2, ss3
CA 2006 s176 ss1, ss4
CA 2006, s177
Ss1
Rehal (Hastings) Ltd v Gulliver 1942
Industrial Development Consultants Ltd v Cooley 1972
Island Export Finance Ltd v Umunna 1986
Bhullar v Bhullar 2003
Foster Bryant Surveying Ltd v Bryant 2007
Case
Bribery
Bribery Act 2010
Section 1
Section 2
Section 6
Section 7
Penalty
Case
Keeping promises
S994 CA - Re Noble Ltd 1983
Promise broken
O’Neill v Phillips 1999
S996(1)
Owing money- insolvent companies
IA 1986 Fraudulent and Wrongful Trading
S213 Fraudulent Trading
Re Patrick Lyon 1933
Re Bank of Credit and Commerce International SA 1998
Both hard to prove
S214 Wrongful Trading
Re Produce Marketing Consortium Ltd No 2
Case
Large cash payments
Money laundering
Proceeds of Crime Act 2002
Three sections - s327, s328, s329
Sentences
Employees breaking laws
Intention - Meridian Global Funds Asia Ltd v Securities Commision 1995
HL Bolton (Eng) Ltd v TJ Graham and Sons Ltd 1957
Tesco v Nattrass
Actus reus
