Company Secretarial Practice (part 1)

What types of companies that can be formed under the Companies Act 2016?

• Company limited by shares

• Company limited by guarantee

• Unlimited company

• Limited liability partnership

• All of the above

Provide the essential requirements of a company

• a name

• one or more members either having limited or unlimited liability

• in a case of company limited by shares, one or more shares

• one or more directors

• All the above

What is the main differences between a company limited by guarantee and other types of companies?

• limited liability

• separate legal entity

• constitution

• number of directors

• number of members

Which company is not allowed to have a subsidiary company?

• company limited by guarantee

• unlimited company

• company limited by shares

• a private company limited by shares

• a public company limited by shares

Can a company limited by guarantee be converted into a public company limited by shares?

• Yes

• No

Characteristics of one-man company

• one shareholder and one director who can be one and the same person

• a private company

• can have written circular member's resolution

• an exempt private company

• all the above

What are the effect of No Par Value?

• A) No share premium account

• B) No authorised share capital

• C) Share issued at price

• D) Share can be issued at discount

• All the above except (D)

Which of the following is not true about the requirements of the CA2016 in relation to company secretary

• All company secretaries must register with CCM

• Must appoint one company secretary within 30 days of incorporation

• A company secretary may vacate office by submitting notice of resignation to the Board or the Registrar

• Need not have a company secretary at incorporation but must appoint one within 14 days of incorporation

What is the minimum number of director for private company?

• one

• two

• three

What is the minimum number of director of a public company?

• one

• two

• three