Question Tag: Company Regulations

Search 500 + past questions and counting.
Professional Bodies Filter
Program Filters
Subject Filters
More
Tags Filter
More
Check Box – Levels
Series Filter
More
Topics Filter
More
  • 10 Marks

BCL – Nov 2020 – L1 – Q5b – Company Directors and Other Officers

Identify the conditions that apply when the regulations of a company require share qualification for directors.

What TWO (2) conditions apply where the regulations of a company require share qualification? (10 marks)

  • Where the Regulations require share qualification, every director must obtain the specified share qualification within two (2) months after his appointment or within such shorter period as may be fixed by the Regulation. If he fails to do so or after the expiration of that period, he ceases to hold his qualification. (5 marks)
  • If a company at any time amends its Regulations so as to introduce or increase the requirement of a share qualification, every director holding at the date of such alteration shall have two (2) months thereafter to obtain his qualification and shall not vacate his office unless he fails to do so. (5 marks)
  • 5 Marks

BCL – May 2016 – L1 – Q5a – Company Law

State five items required by law in the regulations of a company registered under the Companies Act.

State FIVE items that are by law required in the Regulations of a Company registered under the Companies Act. (5 marks)

  • The name of the company
  • “Limited” as the last name for limited companies
  • The nature of authorized business to be carried on by the company or, for non-profit companies, the nature of the objects for which the company is established
  • A statement that the company has all the powers of a natural person with full capacity
  • The name of the first directors, with at least two foundation (or first) directors
  • A statement that the powers of the directors are limited by section 202
  • In the case of a limited liability company, the regulation must contain a statement that the liability of its members is limited
  • For companies with shares, the regulation must state the number of shares with which the company is to be registered, referred to as the authorized shares (i.e., the maximum number of shares that the company is capable of issuing)

[Any 5 points at 1 mark each for a total of 5 marks]

Take control of your business data with insight and in-depth understanding by taking this course. 

Services

Contact Info

  • +233203701923
    +233543919232
  • info@noohrabusiness.com

Get In Touch

Follow us on our social media and get daily updates.

Facebook-f Twitter Linkedin-in Envelope