Company Securities: Shares And Debenture And Enforlement Of Sections Flashcards
What are the types of capital?
Equity capital and loan Capital
What section provides for the definition of securities
Section 135 of ISA
When a company, receives an application for allotment of shares, they most send their reply within how many days
42 days
Where a company is not allotting shares to a person that applies the must send them…..
A letter of regret and a return cheque
What case provides for letters of regrets?
Dangote industries v. Bank PHB
Return of allotment is in form…… and must be filed within …..
Return of announcement is in form 5 and must be filed within one month
Newly allotted members must have their name entered into the register within….
28 days of allotment
Newly allotted members must have their share certificates granted within….
2 months of the allotment
Allotment is approved by ….
Special resolution OR board resolution when delegated to the board of directors
The board of directors can be delegated the power of allotment through….
The articles or the annual general meeting
Transfer of shares of a company is done through…..
An instrument of transfer
Refusal to register a transfer of shares must be communicated by the company within………
Two months
Where shares are successfully transferred, CAC must be notified within
14 days
After transfer of shares, new share certificate must be given within
3 months
A company recognizes an instrument of transfer on a company by endorsing …… on it
“Certificate lodged”
Notice of allotment of shares must be done within…..
14 days
What kind of shares can be attached and sold for the satisfaction of debt?
Shared in a public company held by a judgement debtor
A buyback of shares is done with ….
Distributable profit of a company
A company cannot acquire more than …… the if it’s own shares
15%
