Company Directors – NBC Institute

BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

Question

i. What is the minimum number of directors of a company? (1 Mark)

ii. Explain briefly how directors of a company are appointed. (3 Marks)

iii. Explain THREE powers exercised at a General Meeting of a company. (6 Marks)

Answer

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Tags: Appointment, Company Directors, Company Law, Powers
Level: Level 1

Topic: Company Law
Series: MAY 2016

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

Question

c) Kum is the Executive Director of Okitimiw Company Limited. Kum ordered that three-fourths of monies received weekly by the Company should be paid into the Company’s account and the remaining into his personal account for his travels, boarding, and lodging within and outside the country. Auditing of the accounts of the Company revealed that the lodging of the monies in the personal account of the executive director was not only unlawful but was done to perpetuate fraud.

On the official winding up of the Company, it was revealed that the business was carried out for fraudulent purpose and the directors and other officers of the Company were aware of what went on.

Required:
i) Identify TWO conditions that can be used to restrain fraudulent persons from managing companies. (6 marks)

ii) State TWO actions the Registrar-General will take where the process of inspection reveals criminal liability of the Executive Director.

(6 marks)

Answer

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Tags: Company Directors, Fraudulent Activities, Registrar-General Actions
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis
Series: MAY 2018

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

Question

Atibie family owned an enterprise devoted to the supply of plumbing materials. A business adviser working with H&H Bank advised the family to convert from an enterprise to a limited liability company to qualify for a discounted interest loan facility. The head of Atibie family stated as follows: “Any member of the family can be appointed as a board member of the new company.”

The head of Atibie family reasons that the company can make use of a Substitute Director in case they have no one to appoint as a substantive Director.

Required:

i) Explain FIVE (5) factors that could disqualify a member of Atibie family from being appointed a member of the board. (10 marks)

ii) Explain why the head of Atibie family is right or wrong on the use of a Substitute Director. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Companies Act, Company Directors, Disqualification, Substitute Director
Level: Level 1

Topic: Company directors and other officers
Series: JULY 2023

BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

Question

i. What is the minimum number of directors of a company? (1 Mark)

ii. Explain briefly how directors of a company are appointed. (3 Marks)

iii. Explain THREE powers exercised at a General Meeting of a company. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Appointment, Company Directors, Company Law, Powers
Level: Level 1

Topic: Company Law
Series: MAY 2016

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

Question

On the official winding up of the Company, it was revealed that the business was carried out for fraudulent purpose and the directors and other officers of the Company were aware of what went on.

Required:
i) Identify TWO conditions that can be used to restrain fraudulent persons from managing companies. (6 marks)

ii) State TWO actions the Registrar-General will take where the process of inspection reveals criminal liability of the Executive Director.

(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Directors, Fraudulent Activities, Registrar-General Actions
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis
Series: MAY 2018

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

Question

The head of Atibie family reasons that the company can make use of a Substitute Director in case they have no one to appoint as a substantive Director.

Required:

i) Explain FIVE (5) factors that could disqualify a member of Atibie family from being appointed a member of the board. (10 marks)

ii) Explain why the head of Atibie family is right or wrong on the use of a Substitute Director. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Companies Act, Company Directors, Disqualification, Substitute Director
Level: Level 1

Topic: Company directors and other officers
Series: JULY 2023

Question Tag: Company Directors

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BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

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BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

You're reporting an error for "BL – MAY 2016 – L1 – SB – Q1c – Company Law"

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

You're reporting an error for "BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis"

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

You're reporting an error for "BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers"

BL – MAY 2016 – L1 – SB – Q1c – Company Law

This question addresses the minimum number of directors required, their appointment process, and the powers exercised at a general meeting.

You're reporting an error for "BL – MAY 2016 – L1 – SB – Q1c – Company Law"

BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis

Identify conditions to restrain fraudulent persons from managing companies and actions the Registrar-General may take.

You're reporting an error for "BCL – May 2018 – L1 – Q7c – Legal Implications Relating to Companies in Difficulty or Crisis"

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

You're reporting an error for "BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers"

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