INCORPORATION AND ITS EFFECTS

WHICH LAW STATED THAT NOTICE OF REGISTRATION WILL BE GIVEN ONCE A COMPANY HAS BEEN REGISTERED?

• SECTION 15
• SECTION 16
• SECTION 17
• SECTION 18

BELOW ARE THE EFFECTS OF INCORPORATION, EXCEPT

• BECOME BODY CORPORATE
• HAVE SEPARATE LEGAL ENTITY FROM ITS MEMBERS
• CANNOT BEEN SUED
• HAVE POWER TO ACQUIRE PROPERTY

THE PRINCIPLE OF SEPARATE LEGAL ENTITY ALSO KNOWN AS

• VEIL OF CORPORATE
• VEIL OF COMPANY
• VEIL OF INCORPORATION
• VEIL OF PERSONALITY

THE JUDGE DECIDED THAT IN SALOMON V SALOMON THE MEMBERS OF THE COMPANY IS A SEPARATE LEGAL ENTITY FROM ITS MEMBER

• TRUE
• FALSE

CAN A COMPANY ENTER INTO A CONTRACT WITH ITS SHAREHOLDERS?

• YES
• NO

BELOW ARE THE STATUTORY EXCEPTION TO THE PRINCIPLE OF SEPARATE LEGAL ENTITY, EXCEPT

• OFFENCE RELATING TO UNAUTHORIZED DISTRIBUTION
• OFFENCE RELATING TO FRAUD
• OFFENCE RELATING TO DISTRIBUTION OF PROFIT
• OFFENCE RELATING TO FINANCIAL ASSISTANCE TO PURCHASE SHARE

THE COURT WILL LIFT THE CORPORATE VEIL IF THERE WERE EVASION OF LEGAL OBLIGATION IN THE COMPANY AS MENTIONED IN

• ASPASTRA SDB BHD & 21 ORS V BANK BUMIPUTERA MALAYSIA BHD & ANOR
• SALOMON V SALOMON
• GILFORD MOTOR CO LTD. HORNE
• FOSS V HARBOTTLE