Which of the following is not a type of capital?

1.   ?    Allotted capital
2.   ?    Paid up capital
3.   ?    Debenture capital
4.   ?    Issued capital

Which of the following is not a type of capital?

1.   ?    Allotted capital
2.   ?    Paid up capital
3.   ?    Debenture capital
4.   ?    Issued capital

Which of the following is not a means by which a person can acquire shares?

1.   ?    Death of a member
2.   ?    Sale
3.   ?    Estoppel
4.   ?    Redemption

Which of the following TWO statements are correct?

1.   ?    A company must keep a register of members at its registered office
2.   ?    A company must register any transfer of membership with the registrar of companies
3.   ?    A company must make its register of members available for members to inspect
4.   ?    A company must make its register of members available for a fee to any ‘interested party’

In Brady v Brady (1989), the House of Lords held that the resolution of a conflict between brothers who ran a group of companies was a ‘larger purpose’ as provided for by s 151 CA 1985.

1.   ?    True
2.   ?    False

Which of the following statements is not a correct proposition relating to class rights?

1.   ?    Class rights are rights that are attached to different classes of shares
2.   ?    Class rights can be altered by the passing of a special resolution
3.   ?    Class rights can include voting rights, dividends and return of capital
4.   ?    Class rights can never be altered.

Which of the following does not describe the nature of a floating charge?

1.   ?    It is a charge over a class of assets both present and future
   
   book debts
2.   ?    It is a charge over a class of asset which, in the ordinary course of business, changes from time to time
3.   ?    It is a charge that requires the company to obtain consent if it wishes to deal with the charged asset in the ordinary course of business.
4.   ?    It is a charge over stock in trade, raw material and finished articles
5.   ?    Can comprise a company’s entire undertaking
6.   ?    Can comprise a company’s book debts

What is a book debt?

1.   ?    Tax owed by a company to HM Revenue and Customs
2.   ?    Outstanding wages and salaries
3.   ?    Money owing to a company
4.   ?    A type of Romalpa clause

Under which three of the following sections of company legislation can charges be declared void?

1.   ?    S 214 IA 1986
2.   ?    S 245 IA 1986
3.   ?    C. S 239 IA 1986
4.   ?    S 395 CA 1985

What change did the Enterprise Act 2002 bring about in relation to preferential debts?

1.   ?    The Crown lost its status as a preferential creditor.
2.   ?    Employees’ could longer be treated as a preferential creditor
3.   ?    All ‘qualifying floating charge holders’ became preferential creditors
4.   ?    The secretary of state retained its status as a preferential creditor