Company Decision Making

Question 1

What kind of resolution is needed for a substantial property transaction?

Answer 1

Ordinary resolution before the sale takes place.

Question 2

What is the percentage of shares which need to be held for a substantial property transaction?

Answer 2

More than 20%

Question 3

What type of resolution is needed to approve a loan or guarantee to a director?

Answer 3

Ordinary resolution

Question 4

What is the limit for minor loans?

Answer 4

£10,000

Question 5

For private companies (not associated with a plc) when is approval needed when lending money to directors?

Answer 5

Ordinary resolution for loans or guarantees to directors or to directors of its holding company.