Random Exam Qs Flashcards
True or false, an insolvent LLP can apply for bankruptcy
False
If you whistleblow not in good faith now, what happens?
Your compensation may be reduced by 25%. The disclosure must be made in the public interest
Can a data controller be a company?
Yes
How many hours do You have to report a data breach?
72 hours
Does the GDPR act protect businesses as well as individuals?
No just businesses
True or false, public companies must publish the results of polls at general meetings on a website
False
True or false, proxies can it be included in determining whether a quorum is present
False this is true for quoted companies only
How long must you wait after serving a statutory demand on a company to pay a liability before filing for their bankruptcy?
21 days
Within how many weeks must an administrator hold a creditors meeting?
10 weeks
True or false, the appointment of a receiver will cause a floating charge to crystallise?
True
Within how long must a private company give notice of its refusal to register a requested transfer of its shares?
2 months
What are the mutuality of obligations?
The obligation of the employer to provide work and the obligation on the employee to perform the work provided. This must be present in order for an employment contract to exist
How much notice must you give for termination of contract between 1 week and 2 years service?
1 week
One week notice per year of continuous employment
Up to six weeks probably
What percentage change in an unfair dismissal tribunal award could acting unreasonably change the award by?
25%
What is re-engagement?
When it is ordered that an employee be given new employment with the employer on comparable terms or otherwise suitable
How long do you have to bring a case of UNFAIR dismissal?
3 months
How long do you have to bring a case of wrongful dismissal?
SIX YEARS
How long do you need to have worked somewhere to get a redundancy payment?
2
Years
What is the doctrine of privity?
That a person may have enforceable rights and obligations under a contract only if he is party to it
Are all contracts covered by the unfair contract terms act 1977?
No, some are excluded, like some insurance contracts
Failure to obtain a trading certificate within 6 months of incorporation may result in a compulsory winding up
12 months is the relevant time
How many shareholders % votes are required to remove a director?
> 50% a simple majority
What must you have % of paid up capital - wise with voting rights in order to requisition a company meeting?
5%
Can you sell off a company’s premises without obtaining the consent of the chargee or the court?
No, you must obtain the approval of the court
Who may appoint an LPA receiver?
A secured creditor with a fixed charge over land owned by a company may appoint a receiver to collect rents and/or sell the property in order to repay the amount of the loan
Only directors can make a declaration of solvency
A
Can an ordinary partnership create a floating charge over its business assets?
No
Do ordinary partnerships need to be registered?
No
What is the code of market conduct designed to help eradicate?
Market abuse
Insider dealing
What is chapter 1 of the competition act all about?
Colluding
Chapter II is about abuse of a dominant position
How long does a director have to allot shares when given the authority to do so?
5 years
Can you pay for shares in goodwill?
Yes
Within what timescale must payment for shares be made following a resolution?
5 - 7 weeks
Within what time period must a registered company give notice of its refusal to register a requested transfer of its shares?
2 months
Failure to obtain a trading certificate within how long of incorporation May result in a public company winding up?
12 months
True or false. A statement as to whether the liability of members is to be limited and if so whether by shares or guarantee is not required in a company’s memorandum of association
False
True or false, removal of a director can be by a simple majority?
True
In order to requisition a general meeting, how much paid up capital must you have?
5%
Can an administrator sell the premises without the consent of the chargee or the court?
No, they must obtain permission from the court
True or false, an ordinary partnership cannot create a floating charge over its business assets
True
How much do you have to be owed to petition a court for bankruptcy of someone?
£5000
