MRL2601 FINAL EXAM
ENTREPRENEURIAL LAW
QUESTIONS & VERIFIED
ANSWERS
, MRL2601 FINAL EXAM ENTREPRENEURIAL LAW
QUESTIONS & VERIFIED ANSWERS
What matters must be dealt with in the annual general meeting?
2 appointments
3 presentations
1 any - -Answer--Section 61 of the Companies Act stipulates that at least the following matters
must be transacted at the AGM:
• appointment of an auditor for the following financial year
• appointment of an audit committee
• presentation of the directors' report
• presentation of audited financial statements for the immediately preceding financial year
• presentation of an audit committee report
• any matter raised by shareholders
1. decision
2. employee share scheme or a resolution passed by shareholder.
3. solvency and liquidity .
4. terms of fin assistance must be reasonable and fair towards the cpy.
5. any additional restrictions in the MOI for fin assistance must be adhered to. - -Answer--
Requirements ito S44 for financial assistance (can also add the test ito case law)
1. if after one hour of the appointed time, quorum is no present, the meeting will be postponed
for one week.
2. In exceptional circumstances the one hour period can be extended.
3.No new notice needs to be issued that the meeting is postponed for one week, unless the
venue changed.
4. Shareholders entitled to vote, in the presence of quorum, can decide to adjourn and set a
new time and date for meeting, cannot be 120 days later than the adjourned meeting. - -
Answer--When must a meeting be postponed or adjourned?
1. only a registered auditor may be appointed as the auditor of a cpy.
2. Ito the Auditing Profession Act - the person must have complied with the prescribed
education, training and competency requirements and must make arrangements regarding the
CPD if not part of professional body. - -Answer--What requirements / qualifications must a
person meet in order to be appointed as a auditor?
A close corporation has the following disadvantages: - -Answer--1. No new close corporations
can be
formed under the Companies Act.
2. Close corporations are subjected to
some of the legislative principles
contained in the Companies Act of
2008 in addition to those contained
in the Close Corporations Act.
3. Membership is limited to ten.
4. Juristic persons may not be
ENTREPRENEURIAL LAW
QUESTIONS & VERIFIED
ANSWERS
, MRL2601 FINAL EXAM ENTREPRENEURIAL LAW
QUESTIONS & VERIFIED ANSWERS
What matters must be dealt with in the annual general meeting?
2 appointments
3 presentations
1 any - -Answer--Section 61 of the Companies Act stipulates that at least the following matters
must be transacted at the AGM:
• appointment of an auditor for the following financial year
• appointment of an audit committee
• presentation of the directors' report
• presentation of audited financial statements for the immediately preceding financial year
• presentation of an audit committee report
• any matter raised by shareholders
1. decision
2. employee share scheme or a resolution passed by shareholder.
3. solvency and liquidity .
4. terms of fin assistance must be reasonable and fair towards the cpy.
5. any additional restrictions in the MOI for fin assistance must be adhered to. - -Answer--
Requirements ito S44 for financial assistance (can also add the test ito case law)
1. if after one hour of the appointed time, quorum is no present, the meeting will be postponed
for one week.
2. In exceptional circumstances the one hour period can be extended.
3.No new notice needs to be issued that the meeting is postponed for one week, unless the
venue changed.
4. Shareholders entitled to vote, in the presence of quorum, can decide to adjourn and set a
new time and date for meeting, cannot be 120 days later than the adjourned meeting. - -
Answer--When must a meeting be postponed or adjourned?
1. only a registered auditor may be appointed as the auditor of a cpy.
2. Ito the Auditing Profession Act - the person must have complied with the prescribed
education, training and competency requirements and must make arrangements regarding the
CPD if not part of professional body. - -Answer--What requirements / qualifications must a
person meet in order to be appointed as a auditor?
A close corporation has the following disadvantages: - -Answer--1. No new close corporations
can be
formed under the Companies Act.
2. Close corporations are subjected to
some of the legislative principles
contained in the Companies Act of
2008 in addition to those contained
in the Close Corporations Act.
3. Membership is limited to ten.
4. Juristic persons may not be
