Plumbing and Pipe Fitting 2, May/June 2015

Question 5

(5)        (a)        Define the term company.
            (b)        List two types of Limited Liability Company.

               (c)        State five items in an article of association.


Parts (a) and (b) of this question were well attempted by the candidate. The required response to 5(c) is given below. The items in article of association are:

(i) The method of issue of capital

(ii) Method of holding meeting

(iii) Defined powers and duties of directors

(iv) The right of shareholders

(v) How directors are elected

(vi) Method of sharing dividend

(vii) Method of Audit

(viii) Transfer and forfeiture of shares

(ix) How auditor are remunerated.