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Questions and Answers
What type of company is considered a small company according to S. 394(3) CAMA?
What type of company is considered a small company according to S. 394(3) CAMA?
- A company with at least one government shareholder
- A public company with a turnover of less than 120 Million
- A company whose directors hold less than 51% of its equity share capital (correct)
- A private company with a net asset value of more than 60 Million
According to S. 381(5b) CAMA, when is a body corporate deemed to be a wholly owned subsidiary of another?
According to S. 381(5b) CAMA, when is a body corporate deemed to be a wholly owned subsidiary of another?
- When it has at least one foreign government as a shareholder
- When it has no member except the other company and the other company's wholly owned subsidiaries are its or their nominees (correct)
- When it has multiple members from different companies
- When it is a public company
What defines a holding company's relationship with another company?
What defines a holding company's relationship with another company?
- The other company is a public company while the holding company is private
- The other company is the holding company's subsidiary (correct)
- Both are public companies
- Both companies have different objectives
What is a consortium of companies according to the text provided?
What is a consortium of companies according to the text provided?
Under what condition can a company be classified as a wholly owned subsidiary?
Under what condition can a company be classified as a wholly owned subsidiary?
How is a group of companies defined in the text provided?
How is a group of companies defined in the text provided?
Under what circumstances can a company's name be cancelled by the Corporate Affairs Commission?
Under what circumstances can a company's name be cancelled by the Corporate Affairs Commission?
What happens when the Corporate Affairs Commission refuses to register a company's name?
What happens when the Corporate Affairs Commission refuses to register a company's name?
What is a consequence of a company's incorporation under S. 41 CAMA?
What is a consequence of a company's incorporation under S. 41 CAMA?
What is a duty of a solicitor in the incorporation of a company?
What is a duty of a solicitor in the incorporation of a company?
What happens to a company's properties upon incorporation?
What happens to a company's properties upon incorporation?
What is a consequence of a company's incorporation under S. 42 CAMA?
What is a consequence of a company's incorporation under S. 42 CAMA?
What is one of the prohibited names according to CAMA?
What is one of the prohibited names according to CAMA?
What is the purpose of reserving a name?
What is the purpose of reserving a name?
What is a requirement for incorporating a company?
What is a requirement for incorporating a company?
What is one of the circumstances where a prohibited name can be registered?
What is one of the circumstances where a prohibited name can be registered?
What is a restrictive name?
What is a restrictive name?
What is one of the particulars required for incorporating a company?
What is one of the particulars required for incorporating a company?
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