Legal Framework For Corporate Governance Flashcards
Who makes the code of corporate governance for banks?
CBN
Who makes the code of corporate governance for industry in Niger ?
The national insurance commission
Who makes the code of corporate governance for pension operators?
National Pension Commission
Who makes the code of corporate governance for telecommunications?
Nigerian Communications Commission
What kind of director is not an employee of the company?
Non executive director
What type of director does not have official appointment or removal
Shadow director
What kind of director is put in when there is a vacancy
A casual director
When should annual returns be filed?
Within 42 days
When should return on auditors be filed?
Within 14 days
When should returns on receivership be filed
Within 14 days
When should returns or alteration of share capital be filed?
Within one month
When should registration of charges filed?
90 days
When should notice of change of directors and secretaries be filed
Within 14 days
When should a court order be filed?
Within 15 days
When should a statutory report notice be filed?
Within 14 days
When should notice of increase in share capital be filed?
Within 15 days
When should registration of appointment of a receiver be filed?
Within 7 days
When should copy of a court order on dissolution of a company be filed
Within 14 days
When should notice of appointment of a liquidator be filed?
Within 14 days
When should notice of resolution to wind up voluntarily be filed?
Within 14 days
When should returns on consolidation of share capital be filed?
Within one month
When should returns on subdivision of share capital be filed?
Within one month
What section provides for the disqualification of a director?
Section 283
What kind of resolution is used for appointment of directors!
Ordinary resolution and a public company may use a unanimous resolution
The first meeting of a board of directors must be held within?
Within 6 months of incorporation of the company
Nomination of directors to be appointed be submitted within….
3-21 dogs of the meeting
What kind of notice and resolution is used to remove a director?
A special notice and an ordinary resolution
What kind of company does not require a company secretary?
A small company
What case provides that a director that is also a secretary cannot sign a company document in both capacities at once?
Daily times Nigeria v. Akindiji
What is the maximum number of companies a person can be a director of?
Five
What section provides that a person cannot be a director of more than 5 companies at once?
Section 307(3) as amended by BFA 2023
