KASNEB Company law - Question 4a

Highlight eight rights of a member of a company. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 4b

Explain six rules governing shares and share capital of a company. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 5a

Outline six charges that must be submitted to the registrar of companies for registration. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 6c

Highlight four grounds for which a company might be liquidated voluntarily. ... [Click to view full question and step-by-step solution]

August 2022

1a

Nature and classification of companies

(i) Explain three advantages of a public company over a private company.

(ii) Distinguish between “corporation sole” and “corporation aggregate”.

1b

Company Directors

In relation to Company Directors:

(i) Describe four items that constitute directors’ remuneration.

(ii) Summarise the information on loans, quasi-loans or credit transactions in favour of directors, their controlled bodies corporate and their connected entities that is required to be included in the notes to the financial statements of a company.

2a

Company accounts

In relation to company accounts:

(i) Define the term “annual financial statements”.

(ii) Outline four financial statements prepared by a company annually.

2b

The Company Secretary

The company Secretary is a senior position in a public or private company. With reference to this statement:

(i) Explain the status of a Company Secretary.

(ii) Discuss three duties of a company secretary in a quoted company.

2c

All limited liability companies need to appoint an auditor whose task is to express an independent opinion on whether financial statements show a true and fair view of the financial performance and position of the company.

Required:

Discuss four instances when it could be deemed that the financial statements present a true and fair view of the company.

3a

Formation of companies

With reference to formation of companies:

(i) Outline six statutory documents required to form a private company.

(ii) Highlight four common law duties of a promoter.

3b

Share capital

In the context of share capital:

(i) Explain three ways in which a company might raise share capital.

(ii) Outline four circumstances when shares might be issued at a discount.

4a

Membership of a company

Highlight eight rights of a member of a company.

4b

Shares Share capital

Explain six rules governing shares and share capital of a company.

4c

Shares Share capital

Describe the following types of share capital:

(i) Authorised share capital.

(ii) Called-up share capital.

(iii) Fixed and circulating share capital.

5a

Debt capital

Outline six charges that must be submitted to the registrar of companies for registration.

5b

Debt capital

Highlight three particulars of an existing charge acquired by a company that requires to be submitted to the registrar of companies.

5c

Company meetings

Describe eight preliminary guidelines to be effected before a company conducts a virtual meeting.

6a

Company Investigation

In relation to company investigations:

(i) Explain the legal effect of an inspector’s report.

(ii) Explain two duties of the management of a company during company investigations.

(iii) Summarise three types of proceedings which might result from the inspector’s report of a company’s investigation.

6b

Receivership, Administration, Liquidation and Dissolution of companies

Explain three circumstances under which the official receiver might apply to the registrar for the early dissolution of a company.

6c

Receivership, Administration, Liquidation and Dissolution of companies

Highlight four grounds for which a company might be liquidated voluntarily.

7a

Auditors

Discuss three ways through which a casual vacancy in the office of a company auditor might be filled.

7b

Corporate restructuring

In the context of mergers and acquisitions:

(i) Explain three types of takeovers.

(ii) Highlight eight motives behind mergers.

August 2022

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