Acts and Sections

Question 1

s.154 CA 2006

Answer 1

A plc must have at least 2 directors

Question 2

s.273 (1) CA 2006

Answer 2

Qualifications of secretaries of public companies
(1)It is the duty of the directors of a public company to take all reasonable steps to secure that the secretary (or each joint secretary) of the company—

(a)is a person who appears to them to have the requisite knowledge and experience to discharge the functions of secretary of the company, and

(b)has one or more certain (of the following) qualifications.

Question 3

s.273 (2) CA 2006

Answer 3

2)The qualifications are—

(a)that he has held the office of secretary of a public company for at least three of the five years immediately preceding his appointment as secretary;

(b)that he is a member of any of the bodies specified in subsection (3);

(c)that he is a barrister, advocate or solicitor called or admitted in any part of the United Kingdom;

(d)that he is a person who, by virtue of his holding or having held any other position or his being a member of any other body, appears to the directors to be capable of discharging the functions of secretary of the company.

Question 4

s.273 (3) CA 2006

Answer 4

(3)The bodies referred to in subsection (2)(b) are—

(a)the Institute of Chartered Accountants in England and Wales;

(b)the Institute of Chartered Accountants of Scotland;

(c)the Association of Chartered Certified Accountants;

(d)the Institute of Chartered Accountants in Ireland;

(e)the Institute of Chartered Secretaries and Administrators;

(f)the Chartered Institute of Management Accountants;

(g)the Chartered Institute of Public Finance and Accountancy.

Question 5

s .475 CA 2006

Answer 5

All companies annual accounts must be audited

Question 6

s.475 (1) CA 2006

Answer 6

Must be audited unless the company is:

(a)is exempt from audit under—

section 477 (small companies),
[F1section 479A (subsidiary companies)] or section 480 (dormant companies);
or

(b)is exempt from the requirements of this Part under section 482 (non-profit-making companies subject to public sector audit).

Question 7

s.763 CA (2006)

Answer 7

The authorised minimum

(1)“The authorised minimum”, in relation to the nominal value of a public company’s allotted share capital is—

(a)£50,000, or

(b)the prescribed euro equivalent.

Question 8

s.318 CA 2006

Answer 8

Quorum at meetings

Question 9

s.324 CA 2006

Answer 9

Rights to appoint proxies

Question 10

s.248 CA 2006

Answer 10

Minutes of directors’ meetings

Question 11

s.190 CA (2006)

Answer 11

Substantial property transactions: requirement of members’ approval

Question 12

s.191 CA (2006)

Answer 12

Meaning of “substantial”

Question 13

s.550 CA 2006

Answer 13

Power of directors to allot shares etc: private company with only one class of shares

Question 14

s.561 CA 2006

Answer 14

Existing shareholders’ right of pre-emption

Question 15

s.188 CA 2006

Answer 15

Directors’ long-term service contracts: requirement of members’ approval

Question 16

s.551 CA (2006)

Answer 16

Power of directors to allot shares etc: authorisation by company

Question 17

s.570 CA (2006)

Answer 17

Disapplication of pre-emption rights: directors acting under general authorisation

Question 18

s.561 CA (2006)

Answer 18

Existing shareholders’ right of pre-emption

Question 19

s.580 CA (2006)

Answer 19

Shares not to be allotted at a discount

Question 20

s.677 CA (2006)

Answer 20

Meaning of “financial assistance

Question 21

s.681 CA (2006)

Answer 21

Unconditional exceptions

Question 22

s.770 CA (2006)

Answer 22

Registration of transfer

Question 24

s.273 CA (2006)

Answer 24

Qualifications of secretaries of public companies

Question 25

s.830 (CA 2006)

Question 26

s.197- s.214 (CA 2006)

Question 27

s.190 - s.196 (CA 2006)

Question 28

s.271 CA (2006)