KASNEB Company law - Question 1a

Explain four distinctions between 'co-operative societies' and 'limited companies'. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 3c

Summarise three rights of the legal mortgagee of shares. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 4b

Highlight four rights of an auditor in relation to resolutions and meetings. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 5a

Discuss five powers of an inspector in the investigation of a company's affairs. ... [Click to view full question and step-by-step solution]

KASNEB Company law - Question 7a

Summarise the procedure for removal of a company secretary from office. ... [Click to view full question and step-by-step solution]

May 2017

Q: KASNEB Company law - Question 2b

In Sharp V. Dawes, the word 'meeting' means a coming together of more than one person. With reference to public companies, summarise five exceptions to this ... [Click to view full question and step-by-step solution]

Q: KASNEB Company law - Question 3a

In the context of corporate insolvency:(i) Outline four grounds upon which the liquidator might resign in a members' voluntary liquidation. (ii) Explain four... [Click to view full question and step-by-step solution]

1a

Nature and classification of companies

Explain four distinctions between "co-operative societies" and "limited companies".

1b

Membership of a company Company Directors

Describe three circumstances under which the veil of incorporation of a company might be lifted under case law.

1c

Membership of a company

(i) Identify two instances when the High Court might rectify the register of members of a company.

(ii) Discuss four ways through which a person's membership of a company might cease.

2a

Company Directors

Ronald Dola is a director at Valleys Limited. He recently made a procurement decision that resulted in heavy losses for the company. He has also missed all the board and committee meetings that he was expected to attend. He further delegated work to his junior, Mark, who ended up making grave financial mistakes despite being the Finance Manager of the company, resulting in losses to the company.

In light of the above, analyse the duties of a director in a company and advise Valleys Limited on its legal rights, if any, against Ronald Dola.

2b

Company meetings

In Sharp V. Dawes, the word "meeting" means a coming together of more than one person.

With reference to public companies, summarise five exceptions to this rule.

3a

Receivership, Administration, Liquidation and Dissolution of companies

In the context of corporate insolvency:

(i) Outline four grounds upon which the liquidator might resign in a members' voluntary liquidation.

(ii) Explain four instances when the release of a liquidator becomes effective.

3b

Shares Share capital

With reference to floatation of shares, state two persons who might be held responsible for all or some part of the listing particulars in a prospectus.

3c

Shares Share capital

Summarise three rights of the legal mortgagee of shares.

4a

Auditors Audit of Company Accounts

Describe three instances when an auditor of a company might not be held liable to a third party for alleged professional negligence.

4b

Auditors Audit of Company Accounts Company meetings

Highlight four rights of an auditor in relation to resolutions and meetings.

4c

Debt capital

In the context of debt capital:

(i) State four advantages of a trust deed.

(ii) Explain three instances when a floating charge is deemed to crystallise.

5a

Company Investigation

Discuss five powers of an inspector in the investigation of a company's affairs.

5b

Foreign Companies

(i) Identify four documents required to accompany the application for registration of a foreign company in your country.

(ii) Explain three requirements governing the name of a foreign company.

6a

Corporate restructuring

In the context of post-merger reorganisation:

(i) Define the term "post-merger integration".

(ii) Describe four types of post-merger integration.

6b

Corporate restructuring Share capital

Assume that you are the Management Accountant reporting to the Finance Director of a public limited company. The Finance Director recently undertook a financial review as part of the company's strategic review process. In his report, he observed that the company has more funds than are necessary to support its planned growth and that the company's capital should be reduced.

You are required to write a report outlining methods which might be adopted to reduce the capital of the company.

7a

The Company Secretary

Summarise the procedure for removal of a company secretary from office.

7b

Debt capital

(i) Outline six contents of a debenture certificate.

(ii) Explain four rights that accrue to debenture holders.

May 2017

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