The members of RRR Ltd have been asked to delegate the right to allot a new class of sharesto the directors.What is the maximum period of time for which such a resolution may be effective?
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1 .The statutory model articles provide that votes may be first counted on a show of hands.Who can demand a ballot?(1) The Chairman of the board(2) Any director(3) Any two or more members
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2 .Which of the following statements is correct in relation to an issue of new shares?(1) All new shares issued by a private company must be offered to the existingmembers first.(2) All shares issued for cash must be offered to the existing members first.
A 1 only B 2 only C Neither 1 nor 2 D Both 1 and 2
3 .Which of the following statements is/are correct?(1) Subscriber’s shares in a public company do not have to be paid in cash.(2) Neither a private company nor a public company may issue shares at a discountunless the balance remains payable by the shareholder.
A 1 only B 2 only C Both 1 and 2 D Neither 1 nor 2
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A Ordinary resolution B Ordinary resolution with special notice C Extraordinary resolution D Special resolution
7 .Simone is a member of YYY Ltd. She has received a letter from the company stating that thecompany is unable to pay a dividend this year, but the company will be issuing members withadditional shares.This is an example of which of the following?
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8 .Which of the following will give rise to a share premium?
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10 .What is a “scrip issue”?
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