1
Q
A dividend in specie
A
No cash
2
Q
Definition of distributable profits
A
Accumulated realised profits less accumulated realised losses
3
Q
Can you issue shares for less than nominal value
A
No - but you can ask for part payment instead - the difference can be collected at any time
4
Q
P&L Reserve
A
Accumulated realised profit - accumulated realised losses
5
Q
If dividend is paid over P&L reserves
A
Unlawful dividend - directors are personally liable for returning money
6
Q
Reduction of capital
A
Turn £1 shares into £50p shares
- Private company
- Power in articles of association
- Pass special resolution
- Statement of solvency
Law CBE
flashcards
Decks in class (12)
# Cards
