Corporate Law – NBC Institute

BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase

Conditions under which a company may provide financial assistance for share purchase.

Question

Under what circumstances will the provision of financial assistance by a company for the purchase of its own shares be permitted?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Financing, Capital structure, Corporate Law, Financial Assistance, Share Purchase
Level: Level 1

Topic: Types of capital and the financing of companies
Series: Nov 2024

BL – May 2013 – L1 – SA – Q17 – Company Law

This question tests the knowledge of the number of modes of winding up a company.

Question

How many mode(s) of winding up of a company exist?

A. One
B. Two
C. Three
D. Four
E. Five

Answer

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Tags: Company Liquidation, Corporate Law, Winding-up
Level: Level 1

Topic: Company Law
Series: MAY 2013

BL – May 2018 – L1 – SA – Q20 – Company Law

Identify the situation where a company cannot acquire its own shares

Question

A company may acquire its own shares in the following circumstances EXCEPT to:
A. Eliminate fractional shares
B. Satisfy the claim of a dissenting shareholder
C. Ensure that the company’s share price does not fall on the stock exchange
D. Comply with a court order
E. Settle or compromise a debt or claim asserted by or against the company

Answer

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Tags: Company Shares, Corporate Law, Stock Exchange
Level: Level 1

Topic: Company Law
Series: MAY 2018

BL – May 2022 – L1 – SA – Q11 – Company Law

Determine when a person to whom shares are transmitted is entitled to dividends.

Question

A person to whom shares have been transmitted is entitled to dividends on the shares only after
A. Registration as a member of the company
B. Death of the original shareholder
C. Proving of deceased shareholder’s Will
D. Applying for the dividends
E. Notifying the company of deceased’s death

Answer

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Tags: Corporate Law, Dividends, Shares
Level: Level 1

Topic: Company Law
Series: MAY 2022

BL – Nov 2023 – L1 – SB – Q5d – Company Law

Discusses the types of insolvency practitioners and the qualifications required to practice in Nigeria.

Question

Corporate insolvency occurs when a company is unable to meet its financial obligations.

Required:
i. State TWO insolvency practitioners. (2 Marks)
ii. State THREE qualifications that an insolvency practitioner must possess. (3 Marks)

Answer

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Tags: Corporate Law, Insolvency, Liquidation, Practitioners
Level: Level 1

Topic: Company Law
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

As an alternative to liquidation, where a company is in financial difficulty the secured creditors have a right to appoint a
A. Director to manage the assets
B. Banker to manage the assets
C. Chairman to manage the assets
D. Receiver/manager to manage the assets
E. Stockbroker to manage the assets

Answer

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Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

Question

Pre-incorporation contracts are:
A. Binding on the company
B. Not binding on the company at all
C. Binding on the company after ratification
D. Binding on the Board of Directors
E. Binding on the third party involved

Answer

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Tags: Company Formation, Corporate Law, Pre-Incorporation Contracts
Level: Level 1

Topic: Company Law
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

Question

Which of the following is NOT a duty of a receiver in a company?
A. Taking possession of company property
B. Managing company business
C. Discharging all outgoings
D. Protecting company properties
E. Realising securities for the benefit of shareholders

Answer

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Tags: Business Law, Company Management, Corporate Law, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

Question

Which of the following is ONE of the contents of the memorandum of association of a limited liability company?

A. The transfer and transmission of shares
B. The voting rights of members
C. The borrowing powers of the company
D. The object clause of the company
E. The appointment and powers of Managing Director

Answer

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Tags: Corporate Law, Memorandum of Association, Regulatory Compliance
Level: Level 1

Topic: Regulatory Environment of Accounting
Series: NOV 2014

BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the penalty for corporate bodies obstructing authorized officers under the Money Laundering Act.

Question

Under the Money Laundering (Prevention and Prohibition) Act, 2022 which of the following is the punishment against corporate bodies that obstruct authorized officers of the Agency from doing their lawful duties?

A. ₦250,000 fine
B. ₦500,000 fine
C. ₦1 million fine
D. ₦5 million fine
E. ₦10 million fine

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Legal Penalties, Money laundering
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2023

BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase

Conditions under which a company may provide financial assistance for share purchase.

Question

Under what circumstances will the provision of financial assistance by a company for the purchase of its own shares be permitted?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Financing, Capital structure, Corporate Law, Financial Assistance, Share Purchase
Level: Level 1

Topic: Types of capital and the financing of companies
Series: Nov 2024

BL – May 2013 – L1 – SA – Q17 – Company Law

This question tests the knowledge of the number of modes of winding up a company.

Question

How many mode(s) of winding up of a company exist?

A. One
B. Two
C. Three
D. Four
E. Five

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Liquidation, Corporate Law, Winding-up
Level: Level 1

Topic: Company Law
Series: MAY 2013

BL – May 2018 – L1 – SA – Q20 – Company Law

Identify the situation where a company cannot acquire its own shares

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Shares, Corporate Law, Stock Exchange
Level: Level 1

Topic: Company Law
Series: MAY 2018

BL – May 2022 – L1 – SA – Q11 – Company Law

Determine when a person to whom shares are transmitted is entitled to dividends.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Dividends, Shares
Level: Level 1

Topic: Company Law
Series: MAY 2022

BL – Nov 2023 – L1 – SB – Q5d – Company Law

Discusses the types of insolvency practitioners and the qualifications required to practice in Nigeria.

Question

Corporate insolvency occurs when a company is unable to meet its financial obligations.

Required:
i. State TWO insolvency practitioners. (2 Marks)
ii. State THREE qualifications that an insolvency practitioner must possess. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Insolvency, Liquidation, Practitioners
Level: Level 1

Topic: Company Law
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Formation, Corporate Law, Pre-Incorporation Contracts
Level: Level 1

Topic: Company Law
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Company Management, Corporate Law, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

Question

Which of the following is ONE of the contents of the memorandum of association of a limited liability company?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Memorandum of Association, Regulatory Compliance
Level: Level 1

Topic: Regulatory Environment of Accounting
Series: NOV 2014

BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the penalty for corporate bodies obstructing authorized officers under the Money Laundering Act.

Question

A. ₦250,000 fine
B. ₦500,000 fine
C. ₦1 million fine
D. ₦5 million fine
E. ₦10 million fine

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Legal Penalties, Money laundering
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2023

Question Tag: Corporate Law

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BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase

Conditions under which a company may provide financial assistance for share purchase.

You're reporting an error for "BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase"

BL – May 2013 – L1 – SA – Q17 – Company Law

This question tests the knowledge of the number of modes of winding up a company.

You're reporting an error for "BL – May 2013 – L1 – SA – Q17 – Company Law"

BL – May 2018 – L1 – SA – Q20 – Company Law

Identify the situation where a company cannot acquire its own shares

You're reporting an error for "BL – May 2018 – L1 – SA – Q20 – Company Law"

BL – May 2022 – L1 – SA – Q11 – Company Law

Determine when a person to whom shares are transmitted is entitled to dividends.

You're reporting an error for "BL – May 2022 – L1 – SA – Q11 – Company Law"

BL – Nov 2023 – L1 – SB – Q5d – Company Law

Discusses the types of insolvency practitioners and the qualifications required to practice in Nigeria.

You're reporting an error for "BL – Nov 2023 – L1 – SB – Q5d – Company Law"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q8 – Company Law"

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance"

FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

You're reporting an error for "FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting"

BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the penalty for corporate bodies obstructing authorized officers under the Money Laundering Act.

You're reporting an error for "BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance"

BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase

Conditions under which a company may provide financial assistance for share purchase.

You're reporting an error for "BCL – Nov 2024 – L1 – Q3b – Financial Assistance for Share Purchase"

BL – May 2013 – L1 – SA – Q17 – Company Law

This question tests the knowledge of the number of modes of winding up a company.

You're reporting an error for "BL – May 2013 – L1 – SA – Q17 – Company Law"

BL – May 2018 – L1 – SA – Q20 – Company Law

Identify the situation where a company cannot acquire its own shares

You're reporting an error for "BL – May 2018 – L1 – SA – Q20 – Company Law"

BL – May 2022 – L1 – SA – Q11 – Company Law

Determine when a person to whom shares are transmitted is entitled to dividends.

You're reporting an error for "BL – May 2022 – L1 – SA – Q11 – Company Law"

BL – Nov 2023 – L1 – SB – Q5d – Company Law

Discusses the types of insolvency practitioners and the qualifications required to practice in Nigeria.

You're reporting an error for "BL – Nov 2023 – L1 – SB – Q5d – Company Law"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q8 – Company Law"

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance"

FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting

Identifying the content of a memorandum of association in a limited liability company.

You're reporting an error for "FA – Nov 2014 – L1 – SA – Q14 – Regulatory Environment of Accounting"

BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the penalty for corporate bodies obstructing authorized officers under the Money Laundering Act.

You're reporting an error for "BL – May 2023 – L1 – SA – Q18 – Business Ethics and Corporate Governance"

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