What sections of the FSMA (2000) relate to insider dealing and improperly disclosing information?
s118(2) & s118(3)
2 of 26
Re Patrick Lyon Ltd
Fraudulent Trading, 1933
3 of 26
Wrongful trading case and Insolvency Act subsection
s214, Re Purpoint Ltd 1991
4 of 26
"A percentage of floating charge assets must be set aside to pay unsecured creditors"
s72A Insolvency Act 1986
5 of 26
Charges must be registered at Companies House within how many days to be valid?
21
6 of 26
Insolvency Act 1986 & Transactions at an Undervalue
s238, Kiss Cards Ltd v Lawson 2016
7 of 26
Retention of title clauses - date of Aluminium BV v Romapla Aluminium Ltd?
1976
8 of 26
Case for changing articles of association to benefit the whole company
Allen v Goldreefs of Africa Ltd 1900
9 of 26
What subsection of the CA 2006 requires a 75% majority shareholders vote?
s21
10 of 26
Rayfield v Hands 1958
"The articles also operate as a contract between each member in their capacity as members"
11 of 26
"The Articles do not bind non-members" - 1876
Eley v The PGSLAC Ltd
12 of 26
Macaura v Northern Assurance Co 1925
Insurance should always be in the name of the company
13 of 26
"The Directors of a company may delegate their powers to such agents"
SI 2008
14 of 26
"Professionals such as lawyers and accountants do not count as prmoters"
Kelner v Baxter 1866
15 of 26
"There is no corporate veil as the company does not exist. This means the promoter is personally liable unless it is otherwise specified in the contract" CA 2006...
s55, Phonogram Ltd v Lane 1981
16 of 26
Case for derivative actions:
Burland v Earle 1902
17 of 26
Unfair prejudice - CA 2006...
s994, Re Cumana Ltd 1986
18 of 26
"The court can make such order as it thinks fit to amend unfair prejudice"
s996(1), Re Brenfield Squash Club Ltd 1996
19 of 26
"It is a director's duty to declare interest in proposed transactions or arrangements" CA 2006...
s177, IDC Ltd v Cooley 1972
20 of 26
The Criminal Justice Act
1993
21 of 26
"A person has information as an insider if they willingly know that the information comes from an inside source" CJA 1993...
s57
22 of 26
"The articles are enforceable by the members against the company"
Pender v Lushington 1992
23 of 26
"The Articles bind the company and its members" CA 2006...
s33, Hickman v Sheepbreeders Association 1915
24 of 26
"A wrongdoer cannot benefit from his own wrongdoing"
Employers Liability Act 1969
25 of 26
"If the company does not have insurance, then compensation can still be claimed, as long as the claimant is not responsible for his own safety"
Brumder v Motornet 2013
26 of 26
Other cards in this set
Card 2
Front
What sections of the FSMA (2000) relate to insider dealing and improperly disclosing information?
Back
s118(2) & s118(3)
Card 3
Front
Re Patrick Lyon Ltd
Back
Card 4
Front
Wrongful trading case and Insolvency Act subsection
Back
Card 5
Front
"A percentage of floating charge assets must be set aside to pay unsecured creditors"
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