Chapter 15 Self-test questions

Corporate administration
There are two types of meeting which a company may call. An annual general meeting and a ________ meeting.

Where a meeting has been properly requested, s. 304 Companies Act 2006 requires the directors of the company to call a meeting within how many days from the date on which he/she became subject to the requirement?

Companies may call the following meetings: an annual general meeting; a special meeting; or a general meeting.

Where a meeting has been properly requested, the Companies Act 2006 s. 304 requires the director(s) to call a meeting within __ days from the date on which he/she became subject to the requirement.

In relation to general meetings of a public company (other than an Annual General Meeting), how many days' minimum notice are required to be provided to members under the Companies Act 2006, s. 306?

The directors of a company are required to call the meeting: 1) where they have received the request from members representing at least the required percentage of the paid-up capital of the company as carries the right of voting at general meetings; or 2) in the case of a company not having a share capital, members who represent at least the required percentage of the total voting rights of all members possessing the right to vote at general meetings.

A general meeting of a _______ company must be called by giving notice of at least 14 days.

The quorum required at a meeting to allow resolutions to be effectively moved, for a company limited by shares and with more than one member, is?

A general meeting of a private company must be called by giving notice of at least 7 days.

Where the Companies Act 2006 requires special notice to be given for a resolution, the resolution is not effective until notice of the intention to move the resolution at least __ days before the meeting has been provided. However, where this is not practicable, the company must give its members notice at least 14 days before the meeting through an advertisement in a newspaper having an appropriate circulation, or other manner specified in the company's articles.

A special resolution is required to be moved at a meeting in order to achieve which of the following?
i) To alter the company's articles.
ii) To re-register the company.
iii) To reduce the company's share capital.
iv) To alter the company's name.

A company limited by shares or by guarantee and having only one member will have reached a quorum when one qualifying person is present at a meeting. In other cases, and subject to the company's articles, two qualifying persons present at the meeting are a quorum unless the qualifying persons are the representatives of the same corporation or the persons are the proxies of the same member.

A _______ company must move resolutions at a meeting of the members (or a class of members) and it may not move written resolutions by a majority using the procedure in the Companies Act 2006 ss. 288–300. However, at common law, such resolutions can be passed if unanimous.

To pass an ordinary resolution, what is the necessary percentage of the votes in favour?

Every public company must hold an Annual General Meeting within twelve months of its financial year-end. The company must state that the meeting is an AGM, and notice must be provided that such a meeting is to be called.

The Companies Act 2006 s. 282 identifies _________ resolutions are those passed, by a private company, by the members (or a class of the members) with a simple majority.

The records of resolutions of members moved otherwise than at general meetings must be held for a minimum period of how long?

A private company may not move a written resolution.

_______ resolutions are required to be used for certain decisions such as: to alter the company's articles; alter its name; re-register the company from an unlimited to a private limited, private to public, or public to private; and to reduce the company's share capital.

The Insolvency Act 1986 s. 122 provides for grounds where an order for the compulsory liquidation of a company may be made. Which of the following is NOT included in that section?

The Companies Act 2006 s. 282 identifies that ordinary resolutions are those passed, by a private company, by the members (or a class of the members) with a simple majority (over 50 per cent of the vote).

A company being put into ___________ essentially refers to the company ceasing to exist.

The purpose of a liquidator appointed to a company is NOT to take which of the following actions?

A special resolution of the members (or class of members) means a resolution passed by a majority of not less than 95 per cent.

The purpose of the _____________ is to perform their functions with the objective of rescuing the company as a going concern; achieving a better result for the company's creditors as a whole than would be likely if the company was wound up; or realizing property in order to make a distribution to one or more secured or preferential creditors.

A company being wound up and being liquidated essentially refers to the company ceasing to exist. Liquidation may take effect either through a petition to a court for the compulsory liquidation of the company (under the Insolvency Act 1986, s. 124A); or the members seeking the voluntary liquidation of the business.

Where a _____ charge has been applied to an asset, when the company is wound up the charge holder may take control of the asset and dispose of it to obtain monies owed (any surplus being paid back to the company).

The voluntary winding-up of a company may be achieved through an action by the company's members (who must involve the company's creditors if it is insolvent) of moving a special resolution.

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